The Attock Oil Company (AOC), its affiliates - Attock Refinery Limited (ARL) and Attock Petroleum Limited(APL) - recently approved major investment in the energy sector.
Financial and banking sources believe that the country will immensely benefit from over 400 million dollars of investments.
Groundbreaking of 470 kilometre cross-country petroleum product pipeline from Machike (near Lahore) to Taru Jabba (near Peshawar) via Morgah (Rawalpindi) is expected on July 1, according to industry sources.
This environment-friendly mega-project is expected to bring needed efficiency in the transportation of petroleum products. The energy analysts believe that this important project will save consumers over Rs 3 billion per year in reduced prices at petrol pumps.
The Attock Group has also filed an application to build a 150MW power plant in Rawalpindi.
This project will improve much needed voltage regulation, reduce load shedding and line losses.
With the approval of the board of directors, Attock Refinery Limited is also discussing with the Petroleum Ministry ways to upgrade and expand the refinery at Morgah.
The Attock Oil Company has already consented to invest in upgradation and expansion of the refinery and oilfields.
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