Bosicor Pakistan has decided to set up an additional refinery with a cost of $225 million, substantially larger than any of the installed refineries in the country.
Sources on Tuesday said the refinery would have a capacity of 120,000 barrels per day with a configuration suited to the country's requirements. The world's leading process licensor and engineering consultant, Universal Oil Products Inc, was given the task of selecting and carrying out a thorough technical and economic due diligence.
After an extensive survey, the company has selected a state-of-the-art Bechtel design for the refinery. The company also said the refinery has the capacity to revamp the existing capacity to 180,000 barrels per day.
The refinery consists of mainly crude distillation, gas separation, naptha hydro-treating, platformer, diesel hydro desulphurisation, vacuum distillation and would maximise the production of low sulphur diesel and minimise fuel oil, which suits the requirements of the country.
Bosicor is finalising the new project, which is slated to bring in a substantial foreign investment and would be completed by December 2008.
The refinery is currently engaged in implementing four major projects: revamping of crude distillation unit to attain capacity of 30,000 barrels per day with energy conversation. It would be completed by October this year. Installation of single buoy mooring to be completed by November 2006 would help in receiving large crude oil tankers and export products.
The company plans to add 126,000 tonnes storage capacity to meet the requirements of revamping of the refinery. The project would be completed by November 2006. Installation of 12,500 barrels per day isomerisation plant to upgrade this refinery and other refineries surplus naphtha to gasoline for local market and export. The commissioning target of this plant is December 2007.
The total cost of all these projects amounted to Rs 4 billion, which has been arranged. The refinery has started its full commercial operations for almost two years with a present capacity of 18,000 barrels per day and so far Rs 6.5 billion had been invested in it.