Middle East Economic Survey

VOL. L

No 47

19-November-2007

UAE

IPIC And Parco Plan On $5Bn Pakistan Refinery Project

The Pak-Arab Refinery Company (Parco) and Abu Dhabis International Petroleum Investment Company (IPIC) on 13 November signed a memorandum of understanding to establish a $5bn refinery at Khalifa Point in the Hub district of Baluchistan, about 15km from Karachi. The planned facility, set for completion by end-2012, will have capacity to produce 200,000-300,000 b/d. IPIC, possibly with...