LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Pak to set up refinery with Saudi's help in Balochistan

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Oct 05, 2018
12:02 am
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Pakistan's Cabinet Thursday gave nod to the signing of a memorandum of understanding with Saudi Arabia to set up a state-of-the-art oil refinery in the southwestern province of Balochistan.

The proposed 500,000-barrel per day refinery is estimated to be completed with an investment of about USD 8 to 9 billion.

The refinery will be set up at Gwadar, a coastal town on the Arabian Sea where China built a deep seaport under the China-Pakistan Economic Corridor.

The Cabinet meeting was presided by Prime Minister Imran Khan. Petroleum Minister Ghulam Sarwar Khan briefed the Cabinet about a Saudi Arabia delegation which had visited Pakistan to explore investment opportunities.

Sarwar told the media that the Cabinet had granted approval of the memorandum of understanding (MoU), which is expected to be signed later this month when Saudi energy minister will visit Pakistan.

He said that the technical aspects of the refinery including its capacity and cost will be decided by the two sides.

Sarwar said the exact location to set up the refinery was already identified when the Saudi delegation visited Gwadar.

The agreement for refinery will be signed between the Pakistan State Oil (PSO) and Saudi government owned-Aramco.

Khan said Pakistan also offered Saudi delegation to participate in the USD 2 billion North-South Gas Pipeline and upcoming bids for 10 petroleum exploration blocks.

Earlier, Dawn newspaper reported that Saudi Arabia had agreed in principle to set up a major refinery in Pakistan's Gwadar area and also showed serious commitment to make investments in other areas of energy sector.

It was stated Sarwar Khan while talking to journalists on Wednesday after a Saudi delegation led by energy adviser Ahmad Hamid Al-Ghamidi visited Gwadar.

The minister, who also held talks with the head of delegation, said Saudi Arabia enjoyed great respect in Pakistan and both the countries had strong bilateral relations that would scale new heights under the present government.

A senior official explained that the visit of the Saudi delegation was of fact finding nature and its level of serious commitment for investments appeared very encouraging.

"We have been successful in generating their strong interest and it would now also depend on our abilities to materialise some of these projects," he said.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Indian economy outlook 2021: This is why FY 2021 GDP performance will be better than projection—Finance Ministry EXPLAINS

TMC Candidates List 2021 - Names of 291 candidates announced for West Bengal Elections; See Complete List Here

NEET 2021 exam: Check here the latest update on dates and all you need to know for registration before appearing in the test

Exclusive: JBM Auto focusing on manufacturing electric buses, ED Nishant Arya tells Anil Singhvi; scrappage policy to benefit company, he says

Call of Duty Mobile vs Garena Free Fire comparison: Here's all you need to know about these battle royale games

ESIC Recruitment 2021 Notification: Apply online at esic.nic.in for 6552 vacancies to be filled for UDC and Stenographer Posts

DSSSB Recruitment 2021: Bumper Government Job vacancies at Delhi Jal Board, New Delhi Municipal Council, others; check details at dssb.delhi.in

JEE Main 2021: RUSH! March registration ends today—Here is how you can apply

Ethanol from sugar will lower dependency on Crude import, create jobs and improve earnings of farmers

England batsmen are frankly not good enough in Indian conditions, says Strauss

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved