Construction of Petro-Chemical park at Gwadar starts
ISLAMABAD: The Balochistan provincial government and Chinese consortium signed a Memorandum of Understanding (MoU) for another China Pakistan Economic Corridor (CPEC) project of construction of Petro-Chemical Park at Gwadar costing 46 billion dollars.
This project includes an oil refinery, cement factory, tire factory, supply of water and 1,200 megawatt electricity project.
The oil refinery is to purify 10 million tons, for which a pipeline from Nawabshah to Gwadar would be laid, and 3 metric tons of daily cement would be produced from the factory. Through this scheme, 800 mdg water supply would be provided and eight hundred job opportunities are to be created. A total of eight thousand heavy duty tires would be produced, the surplus of which would be exported.
Gwadar is sustaining stable growth would be an understatement. #CPEC and this petro-chemical plant project would take the country to new heights of economic development after fully functioning of Gwadar Port, as it would not only increase Pakistan’s revenues and exports but also enhance its foreign exchange reserves.
The latest power plant would be installed through which 1,200-megawatt energy would be produced.
The project is expected to be completed in 28 months.
The consortium included Zel P, Senteno and SFIC, Chief Minister Balochistan and other key stakeholders.
As long as we came to know, Government of China is going to establish a 300MW Coal fired Project at Gwadar, Where tariff for the said project is already been determined by NEPRA.
For your information its G-G project Mutually agreed by both Governments..