News Post
Parco Coastal Refinery in Pakistan targets 2025-26 completion
The state-of-the-art and deep conversion 250,000 bpd Parco Coastal Refinery (PCR) at Hub, Balochistan, valued at $5-6 billion, will come on stream in 2025-26. It will be designed to produce products to Euro-4 and 5 specs, with provisions made to further upgrade the products to Euro-6 spec.
PCRL will be the largest industrial project in the Pakistan’s history to be located in coastal area of Balochistan near Karachi and will be a significant addition to Pakistan’s oil refining infrastructure, focused on lower emissions products for domestic market. The project will reduce the growing supply-demand gap for fuels by 11 MMtpy.
The Government of Pakistan will have 60 percent shares, Abu Dhabi’s International Petroleum Investment Company (IPIC) 30 percent, and OMV 10 percent. Financing of the project will take arond 18 months, then it will go to EPC phase. The facility will have a 20 year tax holiday.
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