Khal­ifa Coastal Re­fin­ery – to­wards en­ergy sovereignty

Enterprise - - In focus -

In the ris­ing deficit in pe­tro­leum, oil and lu­bri­cant ( POL) prod­ucts, the emer­gence of Khal­ifa Coastal Re­fin­ery ap­pears as a ray of hope to counter the en­ergy cri­sis. The oil re­fin­ery is lo­cated at Hub, near Gad­dani in Balochis­tan. The Pak-Arab Re­fin­ery (PARCO) and In­ter­na­tional Pe­tro­leum In­vest­ment Com­pany (IPIC) of Abu Dhabi have en­tered into a part­ci­pa­tion agree­ment to es­tab­lish the Khal­ifa Coastal Re­fin­ery val­ued at $6 bil­lion. The IPIC and other UAE govern­ment in­sti­tu­tions will have the ma­jor­ity share­hold­ing i. e. 74 per­cent shares in the project, whereas Pak-Arab Re­fin­ery Lim­ited (PARCO) will have 26 per­cent.

The pro­posed re­fin­ery would have the ca­pac­ity to process 200,000 bar­rels of heavy crude oil and about 13 mil­lion tonnes of oil per an­num. Khal­ifa Coastal Re­fin­ery is a deep con­ver­sion re­fin­ery, de­signed to process 250,000 bpd of heavy crude which will be pro­cured from ad­join­ing Gulf coun­tries like UAE, Iran and Saudi Ara­bia, etc. The si­mul­ta­ne­ous launch­ing of new re­lated projects on the site, i. e. nat­u­ral gas-fired power plant, grid sta­tion, sea­port jetty and a city for re­fin­ery work­ers has es­ca­lated the cost of the project. The site is lo­cated an

area of 1,800 acres.

Im­por­tance of Khal­ifa Point

The de­vel­op­ment of Khal­ifa Coastal Re­fin­ery is a strate­gic in­vest­ment and will play a piv­otal role in en­hanc­ing the coun­try’s pe­tro­leum-pro­duc­ing ca­pa­bil­i­ties. With the con­struc­tion of marine load­ing fa­cil­i­ties to feed the re­fin­ery along with cater­ing to ex­port re­quire­ments, Khal­ifa Point would also de­velop into an­other port, pro­fi­cient in han­dling liq­uid pe­tro­leum cargo. This would sig­nif­i­cantly con­trib­ute to the eco­nomic de­vel­op­ment of Pak­istan in gen­eral and Balochis­tan in par­tic­u­lar.

The pe­tro­leum prod­ucts based on “ Euro IV” spec­i­fi­ca­tions will im­prove their en­vi­ron­men­tal stan­dards to in­ter­na­tional qual­ity along with en­sur­ing the mar­ketabil­ity of the prod­ucts.

Ben­e­fits of Khal­ifa Coastal Re­fin­ery

For­eign Di­rect In­vest­ment of about US $ 6 bil­lion, which is the largest sin­gle for­eign di­rect in­vest­ment ( FDI) made in the coun­try so far. This will bol­ster the much needed eco­nomic ac­tiv­ity in a rel­a­tively less de­vel­oped area. The oil re­fin­ery will bring im­prove­ments to the pe­tro­leum in­fra­struc­ture in the coun­try. It will strengthen the sup­ply chain in­tegrity of pe­tro­leum prod­ucts and re­duce the deficit of pe­tro­leum prod­ucts. The project will gen­er­ate di­rect and in­di­rect em­ploy­ment dur­ing con­struc­tion as well as in the op­er­a­tion phase. Train­ing and de­vel­op­ment of lo­cal hu­man re­source through new op­por­tu­ni­ties and tech­nol­ogy trans­fer will pro­duce an ex­ten­sively trained hu­man re­source, also equipped with lat­est tech­nol­ogy. The pro­duc­tiv­ity of lo­cal ven­dor and ma­te­rial sup­ply in­dus­tries will get a boost. It is a com­bined ef­fort of the govern­ment and the pri­vate sec­tor to boost wel­fare of the peo­ple. An­cil­lary and sup­port in­dus­tries will de­velop around the re­fin­ery com­plex

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