Jereh Group of China is planning to set up an oil refinery in Khyber-Pakhtunkhwa. In this regard, the company is collaborating with the Khyber-Pakhtunkhwa Oil and Gas Company (KPOGCL).
The refinery is expected to fulfill the capacity of 15,000 barrel per day which would cover for the exploration companies operating in the region.
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The CEO of Jereh Group, He Li along with his technical team held a meeting in Peshawar with CEO KPOGCL, Muhammad Raziuddin and DGM Nouman Akbar. The parties discussed the feasibility of the project and plan to manufacture the refinery. KP Energy and Power Secretary Muhammad Naeem Khan and Planning and Development Secretary Shahab Ali Shah also attended the meeting.
Mr. Li said that they are looking forward to work on the project to build the refinery, after investigating all the factors. In this regard, KPOGCL provided a pre-feasibility report to the Jereh Group.
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Creating employment opportunities
CEO Raizuddin said that this project help in reducing unemployment as it will provide almost 10,000 jobs in the KPK. Additionally, it would benefit the hydrocarbon exploration companies in the province. Mr. Riaz further added:
“We envision a pipeline infrastructure directly from the wellhead to the refinery. According to a memorandum of understanding that has already been signed, the Jereh Group will conduct a detailed feasibility study”
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Contribution in corporate social responsibility
Jereh Group will redeem its Corporate Social Responsibility (CSR) by spending $1 million in community development, when the project is completed.
KPOGCL and Jereh Group signed the Memorandum of Understanding (MoU) on 19th April, 2017 in Beijing. The MoU was signed in regard of the joint venture between the two companies for manufacturing an oil refinery. KPOGCL will play an important role in the commencement of the project. KPOGCL will act as the main key in Jereh Groups operation playing part as a security member as well as head of the project.
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