China to build biggest oil refinery of Asia in Pakistan

Islamabad, Aug 24, IRNA -- Pakistan and China have agreed to build Asia’s biggest oil refinery in north western city of Dera Ismail Khan in Pakistan.

According to Pakistan state media, WAK group from Pakistan and Guangdong Electrical Design Institute from China have signed an agreement in this connection in Dubai.

Under the agreement, Asia's largest oil refinery will be established at Yarak area of Dera Ismail Khan in two and a half years at a cost of around 400 billion rupees.

The project will have capacity to refine 100,000 barrels of oil per day.

Under the China-Pakistan Economic Corridor (CPEC) many infrastructure projects are under construction throughout Pakistan. Originally valued at $46 billion, the value of CPEC projects is now worth $ 62 billion. The project will link Pakistani Gwadar port to China's Xinjiang province.

The city of Dera Ismail Khan is major point at western route of the CPEC.