Iran to build $4 billion refinery in Pakistan

Iran has agreed to build an oil refinery in Pakistan at an estimated value of 4 billion dollars, a senior Pakistani official says.

Asim Hussain, an adviser to the Pakistani prime minister, said that the refinery will be constructed in the port city of Gwadar.
The plant will be able to refine 400,000 barrels a day.
The agreement was reached during a meeting between an Iranian delegation led by Oil Minister Rostam Qasemi and Pakistani Prime Minister Raja Pervez Ashraf.
“We had very good meetings and we had a lot of bilateral talks especially on Iran-Pakistan gas pipeline project and setting up oil refinery at Gwadar with PSO (Pakistan State Oil),” IRNA quoted Asim Hussain as saying.
According to a Pakistani official, it is expected that a memorandum of understanding (MoU) be signed for building the refinery during President Asif Ali Zardari’s visit to Tehran on February 27.
Oil Minister Qasemi visited Pakistan on Tuesday to discuss the gas pipeline project with officials in Islamabad.
Iran has agreed to complete Pakistan’s part of the gas pipeline project.
Source: Tehran Times

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