Abu Dhabi - Mubasher: Pak-Arab Refinery Ltd (PARCO), a 60:40 joint venture joint venture between Abu Dhabi's state-run Mubadala Investment Company and the governments of Pakistan, has awarded TechnipFMC the project management consultancy (PMC) services contract to manage a refinery project in Pakistan.
UK-based TechnipFMC will manage the pre-engineering, procurement and construction activities for the project that will be managed and operated by a wholly-owned subsidiary, PARCO Coastal Refinery Limited (PCRL), PARCO said in a statement.
Upon completion, the facilities will comprise a state-of-the-art refinery with a capacity of 250,000 barrels per day (bpd). It will mark Pakistan’s largest refinery and contribute to meeting the demand for refined products in the rapidly growing domestic markets.
“This multi-billion dollar joint-venture project will further strengthen the relationship between our two brotherly countries. We believe, as the largest industrial project in Pakistan, it will deliver significant value for all stakeholders and provide many socio-economic benefits for the country,” said Mubadala Investment Company Executive Director Refining and Petrochemicals and PCRL Vice Chairman Khalifa Al Suwaidi.
The value of TechnipFMC’s contract wasn’t disclosed.
