Islamabad: Trans Asia Refinery Ltd (TRL) has made a major announcement expressing its “total commitment” to building the most complex Refinery in Pakistan, producing more than 100,000 barrels a day and 4 million tons of petroleum products every year. The refinery will be located at Port Qasim, Karachi.
In a major boost to the country’s economy, TRL signalled the end of previous delays with an undertaking that the investors have decided to push the project forward in the interests of all parties and the people of Pakistan.
TRL’s determination to see the project through to completion is demonstrated by two important initiatives announced yesterday. First is the appointment of Descon to undertake a complete “health check” inspection of the TRL refining equipment.
The second is a newly-completed restructuring of TRL management to ensure the project proceeds with all possible haste.
Sultan Al. Ghurair, the new CEO of TRL, said he was “delighted to have Descon on board in order to develop the project further”. Descon is the leading Engineering and Construction company of Pakistan. The company said that, since the refinery had been delayed for some time, they “=will perform a health check of critical equipment before the EPC contractor is finalized.
The TRL project is a direct investment of Al-Ghurair Investment LLC, a UAE-based family conglomerate and one of the most diverse industrial groups in the Middle East. As the majority shareholder, Al Ghurair will play an important role in the future supply of fuel to the nation of Pakistan, says a release.
When completed, the TRL Refinery will annually produce 80,000 tons of LPG, 455,000 tons of Naphtha, 410,000 tons of Motor Gasoline, 422,000 tons of Jet Fuel, 1,000,000 tons of Gas Oil – from which 630,000 tons will be treated Diesel – 1,050,000 tons of Fuel Oil and 200,000 tons of Bitumen. All the products of the refinery are in high demand in Pakistan.
The TRL refinery will create at least 350 direct jobs and several thousand indirect job opportunities for Pakistani workers.
CEO Sultan Al Ghurair, said: “Our parent company and major shareholder, Al Ghurair Investment LLC, has always been about creating long-lasting relationships – and TRL is committed to carrying on that tradition. Al Ghurair looks forward to playing a part in the future prosperity of Pakistan and its people – and the TRL refinery is proof of that commitment”.