Hascol Petroleum Limited has announced in a notice sent to the Pakistan Stock Exchange (PSX) that it has entered into a 30-year lease agreement with Byco Petroleum Limited for the construction of a storage capacity at Mouza Kund, Balochistan, media sources have revealed. The storage facility is the first to be built by the company in Balochistan and is line with the company’s vision to expand operations in Baluchistan in view of the major infrastructural developments under China-Pakistan Economic Corridor (CPEC).
The storage facility is likely to be completed in one year’s time and will have a total capacity of 36,000 tons, comprising 18,000 tons of High Speed Diesel (HSD) and 18,000 tons of Furnace Oil (FO).
Company Secretary Zeeshan ul Haq is reported to have said that company plans to open retail outlets in Baluchistan in the near future.
