Dutch Oil Company Royal Vopak invests $2.8 billion in Pakistan

Head of the delegation apprised the adviser that Royal Vopak will be making an investment of $1.5 billion in the land-based LNG terminal facility. 

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Royal Vopak, a known and reputed Dutch oil company, is eyeing on investing $2.8 billion in Pakistan as business environment improves and favorable circumstances are being provided by the government.

A delegation of Royal Vopak called on Razak Dawood Advisor to Prime Minister on Commerce, Textile, Industries, and Production, and Investment, and had a detailed discussion on new opportunities for investment related to Terminal and Storage Facilities of Liquefied Natural Gas ( LNG) in the country.

According to a press release by the ministry of commerce, Royal Vopak N.V. stores and handles various oil, chemicals, edible oils, and natural gas-related products all across the globe. As Pakistan improves its ranking in Ease of Doing Business Index with an optimistic 11 points, the adviser urged the Dutch giant to explore business opportunities in Pakistan.

Special Economic Zones (SEZs)

He further discussed the steps Pakistan is taking to create a favorable environment for the business. He encouraged them to make an investment in Special Economic Zones (SEZs) provide incentives to investors by allowing duty-free import of machinery besides tax holiday for ten years so that they can get better returns.

Head of the delegation apprised the adviser that Royal Vopak will be making an investment of $1.5 billion in the land-based LNG terminal facility.

”The terminal would provide a cost-effective facility to LNG consumers in the country by introducing state of the art modern technology,” he said.

Besides increasing technological know-how, this will also increase employment opportunities in the engineering sector particularly. the company will also invest $150 million towards the construction of Prolepryplene Plant and $800 million in PARCO Coastal Refinery that will enhance the storage facility.

The head of the delegation of Royal Vopak said that this bond will be strengthened over time and produce fruit in the longer run.


Also See: Ideagist Plans To Bring $1 Billion Investment In Pakistan’s Startup Ecosystem

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