Mubadala to decide on investing $6 bn in Pakistan’s refinery project by 2021

Mubadala to decide on investing $6 bn in Pakistan's refinery project in 2021
  • Facebook share
  • Twitter share
  • Linkedin share
  • Pinterest share
  • WhatsaApp share

Image source: TheNational

Abu Dhabi’s Mubadala Investment Company has recently shared its word about investing $6 billion (AED22.03bn) in Pakistani refinery project. The complexity in the final decision making is arising due to the potentiality of other investors from Saudi Arabia and the UAE.

Mubadala Petroleum & Petrochemicals as well as Austria’s OMV, in which Mubadala has a 24.9 percent stake, are looking to develop a 250,000 barrel-per-day refinery in the Balochistan region near the port city of Karachi to meet Pakistan’s growing energy demand.

In conversation with the National, Mudadala shared that they will make a final investment decision by 2021.

Musabbeh Al Kaabi, CEO, Mubadala Petroleum & Petrochemicals told The National last month…

“We are still finalising the studies and we have a very healthy engagement with our counterparts in Pakistan,”

“Potentially there might be others who might join the partnership. The project originally [was] between OMV, Mubadala and the Pakistanis, [then] there are companies such as Adnoc, and potentially maybe in the future Aramco, but this is a decision that the Pakistani side should take. It’s not us who will dictate who will be part of this project,”

About the author

Jayant Arora

A product-marketing professional with the tremendous capability to deploy multiple online marketing techniques and synergize innovative promotional methodologies to make content available to relevant people.

Connect: LinkedIn | Email

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *