'EU oil companies plan $100 million investment in Pakistan'
Oil companies will invest around $100 million in petrochemical, oil storage and oil infrastructure.
(APP) – Spokesman of the Prime Minister for Trade and Investment for United Kingdom (UK) and Europe Sahibzada Amir Jahangir said on Sunday that oil companies would invest around $100 million in petrochemical, oil storage and infrastructure of Pakistan.
He said that recently a high-level delegation of world’s largest private sector oil company namely ‘VITOL’, headed by senior director Chris Bake including their two senior board directors, visited Pakistan for negotiations with local authorities for planning further.
Jhangir said that the delegation met PM Imran Khan and other relevant officials of ministries and division.
He informed that VITOL group’s senior director Chris Bake had immense appreciation for the premier for tackling the corruption and lifting the damaged economy.
He assured PM Khan that Vitol has expressed keen interest in investing in Pakistan on oil-related projects such as oil storage and other infrastructure.
He said that the meeting was also attended by the chairman of HASCOL Petroleum which operates over 600 gas stations in Pakistan.
He said that successful meetings were conducted with petroleum, energy, and finance ministers and the chairman of Board of Investment (BOI).
PM’s spokesman said that in July, he accompanied Australian investor and philanthropist Andrew Forrest during a meeting with PM Khan and other government officials for bringing investment in Copper and Gold Mining.
“Andrew Forrest’s company is the second largest producer in the world of Iron Ore, Copper and Gold Mining,” he said.
He praised the premier for his honest leadership and his commitment to eradicate corruption from Pakistan.
Forrest emphasised that although his lawyers had cautioned him from making any commitments but he would generously assist and help Pakistan in the three fields.
The spokesperson said that over 3.5 million Pakistanis have been living in Europe and sending about $12 billion annually as foreign remittances to the country.
