By Anwar Ali
GWADAR: Gwadar is expected to host a major new oil refinery project as Saudi Arabia considers investing around $10 billion, according to sources familiar with the development.
The project is seen as part of expanding energy and infrastructure cooperation between Pakistan and Saudi Arabia, with discussions reportedly focusing on long-term strategic investment in the country’s southern port region.
Sources said Saudi energy giant Saudi Aramco is planning to partner with Pakistani firms to establish the refinery, which may also be offered a proposed 20-year tax holiday as an incentive package.
On the Pakistani side, major state-owned companies including Pakistan State Oil, Oil and Gas Development Company Limited, Pakistan Petroleum Limited, and Government Holdings Private Limited are expected to take part in the project.
The proposed refinery is said to have a processing capacity of up to 400,000 barrels per day, with Pakistani companies likely holding a 40 to 45 percent stake, according to initial planning estimates. The project, if finalized, would mark one of the largest energy investments in the country’s recent history.
