Attock Oil to Invest US $170 Mln in Pakistan
|Tuesday, December 30, 2003
Director of the Attock Oil Group of Companies of Saudi Arabia, Dr. Wael G. Pharoan, has called on Pakistani Petroleum Minister Nouraiz Shakoor to brief him about an investment program worth US$170 million slated for next year.
Dr. Pharoan informed the minister that in addition to taking part in oil and gas privatization activities, the company would set up a 150 megawatt furnace-fired power plant in Pakistan with an investment of about US$100 million and lay an oil pipeline from Rawalpindi to Peshawar costing US$70 million by next June.
The director said the group was also interested in investing in the privatization of state-owned oil and gas entities, in addition to undertaking various oil and gas development projects.