Foreign investment sought in energy infrastructure

VTTI, Honeywell eye capital flow into advanced refining technology

Federal Minister for Petroleum Ali Pervaiz Malik held separate meetings with senior representatives of VTTI and Honeywell UOP to discuss investment opportunities, energy infrastructure development and the up-gradation of Pakistan's refinery sector.

During his meeting with a delegation of VTTI, a leading energy infrastructure company specialising in energy storage and terminal solutions, the minister was briefed on the company's interest in expanding its operations and investment in Pakistan.

The VTTI delegation was keen on developing bonded warehousing and re-export facilities in Pakistan and establishing terminal infrastructure for liquefied petroleum gas (LPG) storage, besides exploring opportunities for the expansion of LPG infrastructure and supply chains. Federal Minister Ali Pervaiz Malik welcomed VTTI's interest in investing in Pakistan and said the government was committed to facilitating investment in the country's energy infrastructure. He pointed out that Pakistan's government was working to provide clean, reliable and affordable energy to the people, while ensuring a transparent and fair pricing framework.

In a separate meeting with Honeywell UOP's Shams Qureshi, the petroleum minister discussed the company's ongoing technological contribution to Pakistan's refinery sector and its interest in expanding investment in refinery up-gradation. The Honeywell UOP delegation briefed the minister on the potential opportunities for deployment of advanced refining technologies and further investment in Pakistan's refinery modernisation programme.

Shams Qureshi said that the current environment presented an important opportunity to tap into US financing for refinery up-gradation for production of environmentally clean fuels and related investments.