ISLAMABAD: Pakistan is planning its first deep-conversion refinery, a project expected to attract $4.5 billion in investment and create around 2,000 direct and indirect jobs, according to a commerce ministry statement released on Wednesday.
The proposed refinery in Hub, a coastal industrial district in the southwestern Balochistan province, is part of Pakistan’s broader effort to strengthen energy security, reduce dependence on imported refined petroleum products and expand domestic industrial capacity. Officials say the project could also support the development of downstream petrochemical industries and create new opportunities for manufacturing and exports.
The statement was issued after Commerce Minister Jam Kamal Khan met a delegation from SPEC Refinery Pvt Ltd, the company developing the project in Hub under Pakistan’s Greenfield Refinery Policy, a government framework designed to attract investment in new, technologically advanced refineries to help reduce the country’s dependence on imported petroleum products.
“$4.5 billion Hub refinery project is poised to strengthen Pakistan’s energy security and industrial growth,” the commerce ministry said in a statement after the meeting.
“The project is expected to create approximately 2,000 direct and indirect employment opportunities in Hub and surrounding areas during both its construction and operational phases.”
According to the ministry, the refinery will employ advanced deep-conversion technology designed to maximize the production of high-value petroleum products while processing a range of crude oil grades sourced from international markets.
“Strategic projects such as the Hub refinery can play a vital role in strengthening industrial capacity, enhancing energy security, creating jobs, and attracting long-term foreign and domestic investment,” Khan was quoted in the statement as saying.
The minister said Pakistan’s strategic location, growing domestic market and expanding trade corridors made it an attractive destination for large-scale industrial and energy investments.
The government remains committed to facilitating projects that support economic growth, industrial modernization, import substitution and export development, Khan added.
The delegation requested government support in implementing Pakistan’s Greenfield Refinery Policy and expediting remaining regulatory approvals required for the project’s execution, the statement said.
The delegation told the minister groundwork for the project had already begun and that implementation strategies were being finalized. It also shared plans for associated petrochemical facilities that could produce industrial feedstocks and value-added products for Pakistan’s manufacturing sector while creating additional export opportunities.
Pakistan currently imports significant quantities of refined petroleum products despite having domestic refining capacity. Successive governments have sought investment in more advanced refining facilities that can produce higher-value fuels, reduce import dependence and support the growth of petrochemical industries.
