Investment: Chinese company keen to set up oil refinery

By APP
Published: January 15, 2016
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PHOTO: AFP

PHOTO: AFP

ISLAMABAD: 

China Huanqiu Contracting and Engineering Corporation (HQC) President Wang Guobin on Thursday showed interest in setting up an oil refinery in Pakistan preferably at Gwadar and Karak, Khyber-Pakhtunkhwa (K-P).

Officials of the company, subsidiary of China National Petroleum Corporation (CNPC), visited the Board of Investment (BoI) and informed its chairman Dr Miftah Ismail of the group’s interest in setting up the refinery.

Ismail welcomed Chinese investors and discussed the available opportunities in Pakistan. The BoI chief also highlighted the investment potential and opportunities available specifically for Chinese investors and companies in Pakistan.

Ismail further informed that the government is encouraging the private sector to set up oil refineries in Pakistan, adding that there is no tax for a period of 20 years in this sector. “Laws have been tailored to safeguard and ensure protection of investments.”

Published in The Express Tribune, January 15th, 2016.

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