GEDI signs $3.58bn contract to construct Wak Group’s oil refinery in Pakistan
Chinese firm Guangdong Electrical Design Institute (GEDI) has signed a $3.58bn agreement to provide engineering, procurement and construction services for Wak Group’s Falcon Oil refinery in Khyber Pakhtunkhawa, Pakistan.
The proposed deep conversion refinery has a production capacity of up to 100,000 barrels per day of oil.
Wak Group chairman Waqar Ahmed Khan said: “This new state-of-the-art oil refining complex will have its independent 100-Mega Watt power generation plant, 3.8 million metric tonnes storage facilities all across Pakistan and 300 plus kilometres network of oil pipe lines.”
The project is scheduled to complete 30 months from the date that work commences.
China Energy Engineering (CEEC), the parent company of GEDI, will provide assistance in completing works on the project.
CEEC vice-president Yu Gang said: “As the strong backup for GEDI, CEEC is willing to provide convenience and support while at the same time implement supervision and provide guidance.
“CEEC and GEDI will insist on the scientific, high efficient, concise and modest philosophy to utilise resources, make technical planning and solution and strictly execute the contract to build the project into a demonstration of China-Pakistan cooperation.”
Pakistan and China have been engaging in several economic development projects in different sectors such as energy, security and infrastructure.