WAKGROUP from Pakistan and Guangdong Electrical Design Institute (GEDI) from China, agreeing to construct a state-of-the-art deep conversion Falcon Oil Refinery in KP, Pakistan.
After the expected completion of the project in about 30 months from the commencement date, with a total contract value which amounts to approximately USD 3.58 billion, and which will have a capacity to produce upto 100,000 barrels per day. In addition, the project has a 100 MW power plant and a 3.8 MM MT storage facility on site and across Pakistan. This contributes to the strategic shortage for the country and takes the coverage to 45 days.
The objective of the Falcon Oil refinery will be to process 90% of the imported crude oil via Karachi with 10% local crude oil sourced from various oil wells in Karak district. The subsequent petroleum products produced from the full conversion process will be mainly for sale by complying with the mandated EURO-II specifications.
It will feature a crude distillation unit, a naphtha hydrotreater unit, a reformer unit, an isomerization plant, a thermal gas oil unit, an effluent treatment plant and all auxiliary units.
Guangdong Power Engineering Co., Ltd is the main subsidiary of China Energy Engineering Corporation or Energy China (CEEC,), which is a Chinese state-owned energy conglomerate, with headquarters in Chaoyang District, Beijing.
The conglomerate was established on September 28, 2011, with the approval of the State Council of China. It is under direct supervision of the State-owned Assets Supervision and Administration Commission (SASAC). Its major group companies include the China Gezhouba Group Corporation (CGGC), China Power Engineering Consulting Group Corporation (CPECC), Electric Power Planning & Engineering Institute (EPPEI), China Energy Equipment Co., Ltd., the Engineering Department (14 design & survey institutes in 14 provinces, municipalities and autonomous regions), and the Construction Department (22 construction enterprises in 15 provinces, municipalities and autonomous regions).