With the commissioning of the largest oil refinery in the country, Byco is poised to help ease the burden of imported refined petroleum products on the country. Pakistan is in the grip of crippling energy crisis while the government works tirelessly to ease it by enabling domestic solutions.
Byco with its oil refining complex and the country's first SPM, located in the province of Balochistan, is bringing a revolution to the domestic refining capacity, increasing it from approximately 12.5 million metric tons per annum to almost 18.5 million metric tons per annum. Full throughput is expected to produce about 1.6 million tons HSFO, 2.4 million tons HSD, 1.1 million tons of MS and 0.8 million tons of LPG on an annual basis, figures much needed for Pakistan's consistently rising energy needs. These and other measures will make the country Pakistan more self-sufficient in meeting its petroleum requirements, greatly reducing the import burden on the government and easing the energy crisis.
"We have commissioned Pakistan's largest refinery and are soon to start work on the chemical complex. Our Single Point Mooring has ensured that we get an uninterrupted supply of crude and we will soon be implementing its capacity as a point of export as well. Our retail network is now 242 stations and we are on the verge of launching our own lubricants line. In short Byco is fuelling a nation" said Ms Aatiqa Lateef, Chief of Staff, Byco Industries Incorporated.
Byco has invested over $800 million on the various projects in the province of Balochistan out of which more than 50 percent is foreign investment. "We continue to aggressively shun the negativity surrounding investment in Pakistan. In the current economic environment where foreign investors shy away from investments in the country, Byco has achieved various projects of strategic importance and national interest for the country.-PR
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