TechnipFMC wins PM contract for UAE-backed refinery in Pakistan
PARCO, a 60:40 joint venture between the Pakistani government and Abu Dhabi's Mubadala, is developing the refinery at Hub, near Karachi
An Abu Dhabi-backed refinery construction scheme near the Pakistani city of Karachi will be project managed by TechnipFMC.
Pak-Arab Refinery (PARCO), a 60:40 joint venture between the Government of Pakistan and Emirate of Abu Dhabi – through Mubadala Investment Company – is developing the refinery at Hub, near Karachi.
TechnipFMC has been awarded the contract to provide project management (PM) consulting services for the project’s pre-engineering, procurement, and construction (EPC) activities.
The deep conversion refinery project will be managed and operated by PARCO's wholly-owned subsidiary, PARCO Coastal Refinery Limited (PCRL).
Upon completion, the refinery will have the capacity of 250,000 barrels per day, supported by associated marine loading facilities, making it Pakistan’s largest refinery.
Tariq Rizavi, chief executive officer of PCRL, and Riccardo Moizo, senior vice president of TechnipFMC’s Project Management Consultancy unit, signed the contract.
Commenting on the project, Khalifa Al Suwaidi, executive director of refining and petrochemicals at Mubadala Investment Company, and vice chairman of PCRL, said: “This billion-dollar joint venture project will further strengthen the relationship between our two brotherly countries.
“We believe, as the largest industrial project in Pakistan, the refinery will deliver significant value for all stakeholders, and provide numerous socio-economic benefits for the country.”