Country Pakistan City Khalifa Point | Province Balochistan Owner(s) PARCO
IPIC | |
Capacity 250,000 bbl/d (40,000 m/d) | ||
Khalifa Coastal Refinery is a proposed oil refinery in Khalifa Point in Lasbela District, Balochistan, Pakistan. Bosicor Oil Refinery and HUBCO power will be its major neighbouring industries. The refinery site is to be located at Hub, Balochistan, near Gaddani coastal area. It covers 1,800 acres (7.3 km2). The project is expected to cost US$6 billion. According to media sources, it will be the largest single foreign direct investment ever made in Pakistan.
The refinery will have a capacity of 250,000 barrels per day (40,000 m3/d), equal to 13 million tons of petroleum products per year. It is an existing refinery to be dismantled and relocated from North America to Pakistan. In addition to the refinery, the project includes also 250 MW natural gas-fired power plant, a grid station, a seaport jetty and a city to accommodate refinery workers.
The project was approved by Government of Pakisntan in October 2007. Owners of the refinery will be Pak-Arab Refinery (PARCO) (24%) and International Petroleum Investment Company of Abu-Dhabi (IPIC) (76%). The project was suspended several times by IPIC, but continued. As of August 2013, Abu Dhabi plans to revive Khalifa refinery project after Debt has been cleared.