ISLAMABAD :Chinese firm East Sea Group Limited (ESGL) has kicked off a plan to establish a $4.5 billion oil refinery in Gwadar with an annual oil processing capacity of 8 million tons. According to the media reports, the project will be constructed in two phases. The first phase will have an annual refining capacity of 5 million tons. East Sea Group will place at least six crude oil transshipment vessels totaling 2 million tons at Gwadar port in Pakistan every month, starting from and supporting its own oil source business, and will also provide oil transshipment and transshipment services for major Middle East oil-producing countries.
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