KARACHI: The board of directors of Pakistan Refinery Limited (PRL) has decided to undertake Refinery Expansion and Upgrade Project (REUP). The objectives of the REUP are compliance with requirement to produce EURO V compliant high speed diesel (HSD) and motor spirit (MS/Petrol); expansion of crude processing capacity to 100,000 barrels per day and to achieve self-sustainability by upgrading from hydro-skimming refinery to deep conversion refinery thereby, significantly reducing production of high sulphur furnace oil (HSFO).

PRL to undertake the front-end engineering design (FEED) study of REUP and appoint the financial advisor, with the successful bidder expected to be in place by quarter ending March 31, 2022, material information sent to Pakistan Stock Exchange on Tuesday said. The project cost is currently estimated at around $1.2 billion on the basis of detailed feasibility study.

Copyright Business Recorder, 2021