Australia to set up petroleum plant

ISLAMABAD, Sept 6: Firepower Group of Companies of Australia has proposed to establish a petroleum conditioners manufacturing and blending plant in Karachi to serve Pakistan and the regional markets.

A three-member delegation of the group, headed by Tim Johnston, on Tuesday called on Federal Minister for Petroleum & Natural Resources Amanullah Khan Jadoon and discussed with him matters pertaining to investment potential in the energy sector.

Mr Tim informed the minister that his group’s products include successful line of petroleum conditioners sold in 53 countries. He further said that introduction of petroleum conditioners would significantly reduce harmful emissions by providing technology that makes fuel burn better and would save $500 million annually in oil import bill of Pakistan.

The delegation is visiting Pakistan as a follow up of President Musharraf’s visit to Canberra and Sydney recently where he addressed Australian businessmen and invited them to invest in Pakistan.

Mr Tim briefed the minister about profile of the group and its worldwide activities in the energy development field.

Welcoming the delegation, the minister said that the government was according high priority to the development of the energy sector and all out efforts were being made in this regard.

He said Pakistan would encourage Australian investment in infrastructure and energy development activities. The minister proposed that the group may send a delegation of experts to interact with the Pakistani counterparts for familiarizing petroleum conditioners in the country.—APP