December 28, 2003	Sunday	Ziqa’ad 4, 1424

ISLAMABAD, Dec 27: Director of Attock Oil Group of Companies of Saudi Arabia, Dr. Wael G. Pharoan, currently visiting Pakistan, called on Petroleum Minister, Ch. Nouraiz Shakoor here on Saturday and briefed him about investment programme of $170 million next year.

Dr Pharoan informed the minister that besides taking part in the oil and gas privatization activities, the company would set up 150 megawatt furnace-fired power plant in Pakistan with an investment of about $100 million and laying of oil pipeline from Rawalpindi to Peshawar costing $70 million by June next.

The Director said the Group of Companies was also interested in investing in privatization of state-owned oil and gas entities, besides undertaking various oil and gas development projects.

The Group of Companies was also constructing a hospital equipped with all latest facilities in Khaur, District Attock while three schools are being set up under the socio-economic plan.

Welcoming Dr Pharoan, Ch. Nouraiz Shakoor said that Attock Oil Group of Companies being the pioneer in oil and gas sector of Pakistan must involve in all activities.

The Minister said the Group is been playing a significant role for boosting oil and gas sector of Pakistan and hoped it would continue to play its role.

He assured that all out cooperation would be extended to investors in the petroleum sector for mutual advantage.

Attock Oil Group of Companies is engaged in oil and gas exploration in the subcontinent since 1913.—APP