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UAE to Invest in Oil Refinery Project in Pakistan

Real Estate News
04 Oct 2019
UAE to Invest in Oil Refinery Project in Pakistan

UAE to Invest in Oil Refinery Project in Pakistan

Arab News has reported that the United Arab Emirates (UAE) will invest $5 Billion in an oil refinery project in Pakistan by the end of 2019.

The UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi said, “We are going to launch very soon one of the biggest investments in a refinery project in Hub. It is going to be a $5 billion investment between Mubadala Petroleum Company of Abu Dhabi, Pak Arab Refinery Limited (Parco) and OMV [OMV Pakistan Exploration Gesellschaft].

He further added that this project will strengthen UAE-Pakistan ties and how the UAE wants to focus on the future of Pakistan. He mentioned that the two nations were moving forward on new projects and investments.

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