Saudi investors propose petroleum storage and mineral refineries at Port Qasim

KARACHI (News Desk): In a major development for Pakistan’s maritime and energy sector, a Saudi business delegation has proposed the establishment of petroleum storage facilities and mineral refineries at Port Qasim.

The proposal was presented during a high-level meeting at Port Qasim Authority (PQA) on Monday. The delegation was led by H.H. Prince Mansour bin Muhammad Al-Saud, Chairman of the Saudi-Pakistani Joint Business Council (Saudi Chapter).

Chairman PQA Rear Admiral Syed Moazzam Ilyas (Retd.) briefed the delegation on the port’s ongoing and upcoming projects. The briefing included projects such as the Multipurpose Cargo Terminal, Integrated Container Terminal, and a dedicated Auto Zone for import and re-export of vehicles.

The Saudi side showed keen interest in these projects but specifically explored two new avenues for investment: petroleum storage and mineral refining. Officials said these two sectors could become game-changers for PQA.

The establishment of modern petroleum storage facilities would help Pakistan enhance its strategic oil reserves and improve energy supply chain management, as Port Qasim already handles a major portion of the country’s energy imports.

Similarly, setting up mineral refineries at the port would facilitate the value addition of Pakistan’s mineral resources and boost exports, aligning with the government’s industrialization goals.

The visit was also attended by Federal Secretary Maritime Affairs Capt. Muhammad Khurram Agha (Retd.) and other senior officials.

Both sides agreed that the proposed projects have vast potential and expressed optimism for translating the proposals into joint ventures in the near future.