Royal Vopak to invest 2.8 Billion USD in Pakistan

World fame Dutch oil company, Royal Vopak is going to invest $ 2.8 billion in Pakistan due to improved investment regime and conducive business environment being provided by the government.

According to reports of Baaghitv, a delegation of Royal Voppak called on Mr, Razzak Dawood, Adviser to PM on Commerce, Textile, Industries & Production and Investment to discuss new opportunities for investment related to Terminal and Storage Facilities of LNG in Pakistan.

Head of the delegation apprised the Advisor that Royal Vopak is going to invest 1.5 billion in the land based LNG terminal-facility. The Terminal will provide cost effective facility to LNG consumers in the country by introducing state of the modern technology. This facility will create new job employment opportunities in Pakistan besides, technological now-how in the engineering sector of Pakistan. Moreover, they will also invest 150 million USD in the construction of Prolepryplene Plant and 600 million USD in PARCO Coastal Refinery which will provide storage facility.

The head of the delegation of Royal Vopak urged to have more investment in Pakistan in order to establish long term economic ties between both the countries. He also stressed to explore mutual areas of interest for investment in chemical industry related projects.

Moreover, the Advisor informed the delegation regarding enormous investment opportunities in technology upgradation in various sectors of the economy including chemical sector. Further he apprised the delegation that Special Economic Zone (SEZ) provides incentives to investors by allowing duty free import of machinery besides tax holiday for ten years and urged the representative of Royal Vopak to make investment in these zones to get better returns ion their investments.

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