A high level delegation of the Dutch company Royal Vopak N.V called on Razak Dawood, Advisor to PM on Commerce, Textile, Industries & Production, and Investment to discuss various investment opportunities in Pakistan. The company is interested in projects related to terminal and storage facilities of Liquefied Natural Gas (LNG) in Pakistan.
The head of the delegation informed the Advisor that Royal Vopak is going to invest 1.5 billion USD in the land-based LNG terminal facility. The terminal will provide cost-effective facility to the LNG consumers in the country by introducing state-of-the-art modern technology. The facility will create new job employment opportunities besides, technological know-how in the engineering sector of Pakistan. Moreover, they will also invest 150 million USD in the construction of Prolepryplene Plant and 800 million USD in PARCO Coastal Refinery which will provide storage facility.
The head of the delegation of Royal Vopak urged to have more investment in Pakistan in order to establish long term economic ties between both the countries. He also stressed to explore mutual areas of interest for the investment in chemical industry related projects.
The advisor appreciated their interest in investing in Pakistan and informed the delegation regarding enormous investment opportunities in technology up-gradation in various sectors of economy including chemical sector. Further he appraised the delegation that Special Economic Zones (SEZs) provide incentives to investors by allowing duty free import of machinery besides tax holiday for ten years and urged the representative of Royal Vopak to make investment in these zones to get better returns on their investments.