ISLAMABAD: The United Arab Emirates (UAE) plans to invest $5 billion in an oil refinery project in Pakistan by the end of 2019, said UAE’s top diplomat while talking to Arab News on Thursday.
“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 Hamad Obaid Ibrahim Salem Al-Zaabi said.
PARCO Coastal Refinery is among UAE’s major investments in the country. It was incorporated in Pakistan in May 1974, as a public limited company. Today, PARCO is considered the fulcrum in Pakistan’s strategic oil supply and logistics.
Mubadala Petroleum is an international oil and gas company based in the UAE.
The plan is to set up a deep-conversion, state-of-the-art refinery that would have an output of 250,000-300,000 barrels per day.
Al-Zaabi said the project was the result of extensive discussions between Mubadala Petroleum and Pakistan’s petroleum ministry along with PARCO and OMV.
“This project will show the strength of UAE-Pakistan relations and how the UAE is focusing on investment in and future of Pakistan.”
Pakistan has sought local and foreign investment in oil and gas sector. It is also offering good rates to oil and gas exploration and production companies.
“The two governments are finalizing the minute details of this refinery project. Many meetings have taken place regarding this project,” Al-Zaabi said, adding that a UAE delegation, headed by Musabbeh Al Kaabi, the chief executive officer of Mubadala Petroleum, visited Pakistan a few months ago and met with the board of investment chairman and Pakistan’s petroleum minister.
“They have discussed this project in detail. We are going to launch it very soon,” he added.
UAE to invest $5 billion in Pakistan's oil refinery, says envoy
UAE to invest $5 billion in Pakistan's oil refinery, says envoy
- PARCO Coastal Refinery is among UAE’s major investments in the country
- The oil refinery project in Hub, Balochistan, will have an output of 250,000-300,000 barrels per day
Pakistan to showcase BYD, Samsung, Google assembly push at ITCN Asia expo
- STZA pavilion backed by SIFC highlights shift from tech services to manufacturing
- Electric vehicles, electronics and data centers featured at Lahore exhibition
KARACHI: Pakistan will showcase electric vehicle and electronics assembly by global brands including BYD, Samsung and Google at ITCN Asia 2026, its largest tech expo, as the government seeks to signal a shift from technology consumption toward local manufacturing under its investment-led growth strategy.
The display will take place through a flagship national pavilion led by the Special Technology Zones Authority (STZA) at the three-day ITCN Asia exhibition beginning Jan. 17 at the Lahore Expo Center, with facilitation from the Special Investment Facilitation Council (SIFC), according to a statement issued on Thursday by the cabinet division.
The move comes as Pakistan pushes to deepen industrial capacity and attract long-term foreign investment amid pressure to boost exports and reduce reliance on external financing. While Pakistan has traditionally positioned itself as a provider of IT services and outsourcing, officials have increasingly emphasized localized production in sectors such as electric vehicles, electronics, cloud infrastructure and data centers.
According to the statement, the STZA pavilion will be organized around three themes: “Manufactured in Pakistan,” “Powered by Pakistan,” and “Pakistan as a Tech Destination,” highlighting the country’s effort to integrate technology with manufacturing and physical infrastructure.
“Manufactured in Pakistan [is] a clear demonstration of Pakistan’s shift from technology consumption to localized production, featuring global brands manufacturing and assembling within STZA-notified zones for domestic and international Markets,” the press release by STZA said.
“Exhibits include BYD Electric Vehicles, Google Chromebook Assembly through NRTC, and Samsung Electronics through Sapphire Group, underscoring Pakistan’s growing role in global manufacturing value chains.”
The digital infrastructure segment will showcase investments in data centers and computing capacity, with participation from firms including Multinet, a Pakistani telecom and data services provider, and Sky47, a local data center and cloud infrastructure operator, focusing on cloud services, connectivity and enterprise-grade digital platforms.
A third segment will highlight investment-ready technology zones, including Tech7 STZ and Winston STZ, privately developed Special Technology Zones that are building large-scale facilities such as offices, data centers and industrial space to support technology firms seeking to expand domestically and internationally.
STZA said it has notified 32 Special Technology Zones nationwide since its inception, hosting more than 250 technology enterprises and around 27,000 professionals across sectors including artificial intelligence, fintech, cloud computing, agritech, business process outsourcing and high-tech manufacturing such as drones, electronics and electric vehicles.
Under existing policy, technology firms operating within notified zones are eligible for income tax, customs duty and foreign exchange incentives until June 30, 2035, the statement said.
ITCN Asia is one of Pakistan’s largest annual technology exhibitions, drawing local and foreign investors, industry leaders and policymakers, and is being used this year to project Pakistan’s readiness for technology-driven manufacturing and infrastructure development.
