Iran to Build Oil Refinery for Pakistan

by: czaragoza Posted date: March 12, 2013 In: Headlines

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Iran and Pakistan launch the construction of their long-awaited gas pipeline. Also known as the peace pipeline, the 2700 kilometer energy project carries a price tag of around 7.5 billion dollars, a venture that the United States has been fighting tooth and nail to stop in all manner of proxy methods. But that’s not all. The two sides have also signed an agreement to set up Pakistan’s largest oil refinery, costing around 4 billion dollars. Addressing the inauguration ceremony on the Iran-Pakistan border in Sistan and Baluchestan province, the presidents of Iran and Pakistan said the project is a turning point for the region.

A number of high-ranking officials, ambassadors and ministers from countries such as Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Afghanistan and Turkmenistan also attended the ceremony. Speaking to Press TV, Pakistan’s foreign minister said the pipeline will go ahead because Pakistan’s energy crisis dictates that it must. She said the pipeline and the oil refinery will become a trade corridor and may prompt China and India to revive their projects to get Iranian oil and gas supplies.

Iran has built around 900 kilometer of its 12,000 kilometer pipeline. With the help of Pakistani partners, Iran ahs also invested around two billion dollars to build around 800 kilometers of the pipeline on the Pakistani side of the border. Both projects are expected to complete within a year.

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