A Chinese company called Mingyuan Holdings Group Co Ltd has offered to install an oil refinery near Karachi with the investment of $2 billion.
The refinery estimated to refine over 10 million tonnes of oil annually to set the commodity in the local and international markets.
The delegation of the Chinese company led by its Chairman Ji Hong Shui presented the offer during a meeting with Sindh Board of Investment (SBI) Chairperson Naheed Memon here on Friday, said a statement.
They also discussed to establish the refinery in the area near Port Qasim Karachi or Dhabeji, Gharo, Nooriabad, Thatta or Kotri.
The company also discussed to establish the industries relevant to the oil refinery in the area adjacent to it.
Talking to the delegation, the chairperson SBI appreciated their offer and assured full cooperation to the Chinese company on behalf of Sindh government.
She called upon the members of the Chinese delegation to present their suggestions with regard to their required facilities like electricity, water and gas so as to take necessary action.
The members of the Chinese delegation decided to present their detailed suggestions in the next meeting with the SBI chairperson