China looks to invest $30 bn in petrochemicals and refineries at Gwadar

Islamabad, March 18 If political stability remains intact, the Chinese commitment of $20 to $30 billion investments for establishing a petrochemical complex and relocation of refineries at Gwadar could be materialised, Special Assistant to Pakistan Prime Minister (SAPM) on CPEC, Khalid Mansoor, said, The News reported.

"If we ensure political stability, Chinese companies are going to make huge investments ranging from $20 to $30 billion for establishing the petrochemical complex and relocation of two refineries at Gwadar over the next years. We used to talk more and work less but now things are in place to make it a reality," Khalid Mansoor confirmed to The News after addressing the Pakistan Petrochemical Symposium organised by the Corporate Pakistan Group in collaboration with the OICCI and other partners.

Earlier, in his address, he said that on the way forward, there is a need to formulate a policy framework for the Thar Coal gasification. The Thar Chemical Industrial Zone might be established with Special Economic Zone (SEZ) incentives, development and implementation of infrastructure projects in Thar.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor