Chinese company visits Gwadar to materialize $4.5b oil refinery project

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In order to materialize the $4.5b oil refinery project in Gwadar, five-member delegation of Chinese Company “East Sea Group Limited” is visiting Gwadar, Gwadar Pro reported on Tuesday.

ESGL official Jason Zhou said that ESGL chief engineer Mr Liu along with other officials will be in Gwadar from December 20. The delegation consisting of technical team with marine engineering, commerce and petroleum professional background will be headed by Group’s General Manager Fang Haixia.

Delegation will stay for three or four days in an effort to tune in conceptual and practical frameworks.

They will hold meetings with leadership of China Overseas Ports Holding Company and Gwadar Port Authority to review the proposed site for the establishment of oil refinery in Gwadar Free Zone phase II.

As per initial plan, ESGL will install 5 million tons capacity oil refinery in Gwadar. Later ESGL will upgrade it with annual oil processing capacity of 8 million tons in Gwadar.

China Overseas Port Hold Company (COPHCO and ESGL have already mutually developed understanding to make things happen at Gwadar Free Zone phase II.

East Sea Group Limited (ESGL) is a diversified multinational company, mainly engaged in energy trade, energy storage logistics and oil refining, and has invested in many countries such as South America, the Middle East and Indonesia.