A delegation of Russian investors from Inter Rao Engineering & HIMMASH APPARAT, a leading EPCC contractor through local partners ORPHEUS have all joined and engaged in a Memorandum of Understanding (MoU) with Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) for establishment of medium size refinery in district Kohat to enhance activities in oil & gas sector of KP Province.
Considering the crude/condensate production from KP Province being the leading player amongst other provinces, investors have expressed keen interest in the project. The meeting was held in between KPOGCL CEO Razi Uddin and visiting delegation headed by Yaroslav Gavrylendo, Advisor to CEO Inter Rao Engineering and Narovlyanski Alexander, Head of Export for HIMMASH APPARAT to discuss way forward on the project, according to official communiqué issued by the company here on Thursday.
KPOGCL is playing an active role as facilitator, de-briefed the investors on financial and technical aspects of the project. KP Government is fulfilling their responsibility for providing investors with one window stop shop facility assuring full cooperation to visiting delegation. Letters of Intent has already been issued by Russian investor through their consortium to KP Government and they are keen to take this project in next phase as stated by KPOGCL CEO Razi Uddin Razi.
As per the MoU terms, interested group will execute detailed feasibility for this project. KPOGCL also arranged a detailed site visit to the Russian delegation of district Kohat and showed the potential site for setting up the crude/condensate refinery. The delegation lauded the efforts of KPOGCL for facilitating new investors in the region on fast track basis and assured to take this project forward subject to their approval from Russia to enter Pakistan's market. KPOGCL is taking all necessary steps for enabling the vision of incumbent KP Government to ensure Energy Security for Pakistan.
Copyright Business Recorder, 2017