China to Invest $4 Billion in Pakistan to Develop Petrochemical Complex

The Economic Times, August 17, 2017

China is reportedly planning to construct a $4 billion petrochemical complex near Pakistan's southern port city of Karachi, according industry officials. The complex envisions a number of jetties, a refinery with 10 million tonnes per year capacity, as well as downstream processing facilities for naphtha and its component chemicals. 

"Currently we are importing $2 billion worth of these chemicals from the Middle East," said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zubair M Tufail. He added that the complex could help reduce Pakistan's external deficit and that building of the complex will take 4 -5 years. 

Click here to read the full article from The Economic Times.

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