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Massive Refinery announced by Foreign Investors in call on visit to the Prime Minister, announces 500 million USD refinery

Mr Choudary Iftikhar Rasul Ghumman chairman of both Ghummans Group and Berkeley Group UAE and Shaikh Muhammad Ahmed Ali Alkaitoob Alnuaimi called on Prime Minister Muhammad Nawaz Sharif and told that their consortium is planning to set up a state-of-the-art oil refinery in Pakistan at a cost of around $500 million which will start functioning by the middle of 2016. The local company has been registered for the said purpose by the name of United Petroleum

Chaurdry Iftikhar chairman of Berkley Energy and David August briefed at the end of the first phase the refinery, spread over an area of 400-500 acres, would have the capacity of 50,000 barrels per day.  In the next three year's time the refinery's capacity would be increased to 100,000 barrels of oil per day.

The Prime Minister assured the company of government of Pakistan's fullest support in setting up this venture, which would be immensely beneficial for the country.

Talking about relations with the UAE the Prime Minister said Pakistan both our countries have had excellent relations spread over decades and projects like this would further strengthen mutual ties.

The Prime Minister was informed that the company has earmarked three possible sites for the refinery in Karak and Kohat and that oil present on these locations is light sweet crude oil of good quality

Shaikh Muhammad Ahmed Ali Alkaitoob Alnuaimi informed the Prime Minister that this refinery, working under the banner of United Petroleum, would have very high standards on environmental pollution and would not cause any damage to the fauna and flora of the area.

Regarding this refinery a strategic asset, the Prime Minister was pleased to note that the refinery would employ hundreds of people from nearby areas.

Upon completion of second phase a total of 2000-3000 new jobs would be created, immensely benefit the residents of the area.

Sheik HH Shaikh Ahmed Bin Dalmook Al Maktoum in a message has stated stated that xcelera would be helping with the feasibility of the project. Shaikh Muhammad Ahmed Ali Alkaitoob Alnuaimi also stated the he would be selecting Samsung to construct the refinery.

The Prime Minister encouraged the company to start work on this project as soon as possible as it will be a blessing for the people of that area generating lot of economic activity.

Xcelera Group Mansur informed the Prime Minister that ground breaking at a suitable site would take place in about four to six weeks' time.

Participants of the meeting thanked the Prime Minister for passing on directions for ensuring provision of security to the refinery and the personnel to be employed there.

The Province of KPK currently produces 46000 barrels of Crude/condensate daily, with OGDCL currently having stakes in the province and an extremely high rate of success from the exploration &drilling from their fields in Nashpa, Mela & Chanda. Other companies