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Oil and Gas

Overseas Private Investment Corporation Invests $ 98.6 Million in Gas Project

Islamabad: The Overseas Investment Corporation, an independent United States agency has signed an agreement with Port Gas Pakistan Limited’s, liquefied natural gas project at Bin Qasim to provide $98.6 million.

While addressing the signing ceremony here in Islamabad the Federal Minister for Finance and Economic Affairs, Dr. Abdul Hafeez Shaikh said that the funding by the Overseas Private Investment Corporation signifies the international investor’s confidence in our economy and entrepreneurs.

The Finance Minister also said that this is naturally an important project that comes at a critical time, and it will greatly help in overcoming the energy shortage in the county.

The Overseas Private Investment Corporation an independent United States agency, under the agreement, will invest $98.6 million in the liquefied natural gas project being installed at Port Qasim in Karachi, with a total cost of $166.00 million which will provide 400 mmscfd of gas for power generation and industries.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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