United Arab Emirates (UAE) has planned to invest $5 billion in an oil refinery project in Pakistan by the end of 2019, said a top diplomat.
“We are going to launch very soon one of the biggest investments in a refinery project in Hub (a town in Balochistan). It is going to be a $5 billion investment between Mubadala Petroleum Company of Abu Dhabi, Pak Arab Refinery Limited (PARCO) and OMV (OMV Pakistan Exploration Gesellschaft),” UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi said.
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