Pakistan's refinery project<\/p>\n
KARACHI (AFP): Work started here yesterday on the country's
\nfirst hydrocracker refinery project, jointly sponsored by
\nPakistan and the United Arab Emirates (UAE), officials said.<\/p>\n
Hydrocracker is one of the most recently developed refining
\ntechniques where a wide range of petroleum products are produced
\nby processing heavy residual oil. At the inauguration ceremony,
\nPrime Minister Benazir Bhutto described it as the first step
\ntoward Pakistan's efforts to attain self-sufficiency in the
\nproduction of petroleum products.<\/p>\n
Pakistan is facing a shortage of 80 million tons of petroleum
\nproducts.<\/p>\n
The more than US$530 million project is to be completed in
\n1998.<\/p>\n
It is jointly sponsored by the State Petroleum Refining and
\nPetrochemical Corporation (PERAC) and Crescent Petroleum
\nInternational (CPI) of the UAE.<\/p>\n
CPI will contribute 35 percent of the equity in foreign
\ncurrency and PERAC will share about 35 percent in local currency
\nwhile the general public will contribute the remaining 30
\npercent, officials said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pakistans-refinery-project-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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