Pakistan plans first Deep Conversion Greenfield Refinery Project worth $4.5b in Hub

ISLAMABAD – Federal Minister for Commerce Jam Kamal Khan held a meeting with a delegation of SPEC Refinery Pvt Ltd, led by its Chairman, Zafar Sheikh, to discuss the development of Pakistan’s first Deep Conversion Greenfield Refinery Project planned at Hub, Balochistan. The delegation briefed the Minister on the project’s progress and highlighted its strategic importance in strengthening Pakistan’s energy security, reducing reliance on imported refined petroleum products, and promoting industrial development. The proposed refinery will employ advanced deep conversion technology capable of maximizing the production of high-value petroleum products while processing a wide range of crude oil grades sourced from international markets. During the meeting, the delegation requested the government’s support in facilitating the implementation of the Greenfield Refinery Policy and expediting the issuance of the remaining regulatory approvals required by the FBR for the project’s timely execution. The delegation noted that the project represents a major long-term investment in Pakistan’s energy sector and has the potential to catalyze the development of downstream petrochemical industries. It further informed the Minister that the groundwork for the project has already commenced and that future implementation strategies are currently being finalized. Chairman Zafar informed the Minister that the project is expected to create approximately 2,000 direct and indirect employment opportunities in Hub and surrounding areas during both its construction and operational phases. He added that the project would contribute significantly to regional economic development, skills enhancement, technology transfer, and industrial growth. Jam Kamal Khan welcomed the investment and emphasized that Pakistan offers immense opportunities for large-scale industrial and energy projects owing to its strategic geopolitical location at the crossroads of South Asia, Central Asia, the Middle East, and Wes