Pakistan is in talks with Saudi Arabia, China, UAE, and international banks to secure $2 billion for expanding Pakistan Refinery Limited’s capacity in Karachi, officials said.
The project aims to double PRL’s crude oil processing capacity from 50,000 to 100,000 barrels per day, improve fuel quality to Euro-V standards and reduce reliance on fuel imports.
Officials said the three-year project will be financed mainly through debt, while potential investors may also take equity stakes, with work expected to begin in 2027.
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