With an investment of $2 bn, Mingyuan Holdings Group Co limited, a chinese company, has offered to install an oil refinery near Karachi. The refinery is estimated to refine over 10 million tonnes of oil annually to set the commodity in the local and international markets. The delegation of the Chinese Company led by its Chairman Ji Hong Shui presented the offer during meeting with Chairperson, Sindh Board of Investment (SBI), Naheed Memon.
The refinery will be established near Port Qasim Karachi or Dhabeji, Gharo, Nooriabad, Thatta or Kotri. The company also discussed to establish the industries relevant to the oil refinery in the area adjacent to it. Talking to the delegation, the chairperson SBI appreciated their offer and assured full cooperation to the Chinese company on behalf of Sindh Government. She called upon the members of the Chinese delegation to present their suggestions with regard to their required facilities like electricity, water and gas so as necessary steps in this regard could be taken and arrangements made.
