Iran invites Pakis to invest in coastal refinery projects

Islamabad: The Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon, and Iranian Ambassador Masha Allah Shakeri on Tuesday discussed progress on Iran-Pak-India (IPI) gas pipeline project and supply of electricity from Iran to Pakistan.

During a meeting held here, they also deliberated upon co-operation in coal, lead, and zinc exploration and production of iron ore and establishment of oil refinery. Petroleum Ministry Secretary Farrukh Qayyum, Director-General, Oil, G A Sabri, and Director-General, Minerals, Irshad Ali Khokhar, were also present.

Both sides agreed to take benefit of the vast opportunities in the oil, gas and minerals sectors between the two countries. The Iranian Ambassador said that his country has technical expertise in mining and production of coal, lead, zinc and iron ore, and Pakistan could take benefit from it.

He also offered to set up an oil refinery in Pakistan and supply of furnace oil. Jadoon said that Pakistan was taking possible steps to utilise the deposits of coal, lead, zinc, copper and iron ore to strengthen its economy and meet its energy requirements.

He said there were 175 billion tons coal deposits in Sindh and added that foreign and local investors could invest in these sectors. He said that the government would welcome Iranian co-operation in setting up a coastal refinery, which would also enhance development and progress in the regional areas.