ISLAMABAD: Pakistan’s proposed $3.5 billion Falcon Isles Refinery and Storage Complex has reached an important institutional milestone after receiving endorsement from the China-Pakistan Economic Corridor (CPEC) Secretariat.
The project, planned for Dhabeji in Thatta district, has been formally endorsed by the CPEC Secretariat, which has asked the Board of Investment (BOI) to present the project before the Joint Working Group on Industrial Cooperation.
The development could become one of the largest private-sector industrial investments in Pakistan in recent years.
The proposed refinery and storage complex is also being viewed as an important step toward attracting private investment into Pakistan’s petroleum and energy infrastructure.
If implemented, the project could contribute to expanding the country’s refining and storage capacity while supporting industrial development and investment in the energy sector.
The referral to the Joint Working Group represents a significant step in the project’s institutional process and could pave the way for further consideration under the industrial cooperation framework of CPEC.
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