KARACHI, Aug 23: Pakistan Refinery Limited (PRL) will invest Rs11 billion in the next three years for the upgradation of the refinery to meet the future product specification as specified by the petroleum ministry.

The upgradation, which has got under way from August, will help the refinery in sustaining future profitable operations. The additional units include diesel hydrotreater, visbreaker, hydrogen generating plant, deasphalting unit, sulphur recovery unit, amino treatment unit and vacuum distillation.

These units will produce premium quality products for the local market as per the EURO II specifications and will also produce exportable surplus. The refinery will also produce asphalt to meet the local market demand.

The PRL board of directors had approved the investment plan in a meeting held on August 22, says a press release.

Aftab Hussain, general manager commercial and supply, told Dawn that one of the salient features of investment was the reduction of sulphur content in diesel to 0.05 per cent from the current one per cent.

PRL produces 600,000 tons diesel per annum and it will enhance the production to 650,000 tons in the ongoing upgradation process. He said PRL’s current refinery capacity is 50,000 barrels per day for all products.

PRL produces 150,000 tons of petrol every year, besides 900,000 tons of furnace oil per annum. It produces 35 tons per day of liquefied petroleum gas (LPG), he said and added that the refinery had made the highest investment since its establishment in 1962.

According to the investment pattern, Shell enjoys 30 per cent share followed by 18 per cent by Pakistan State Oil, 12 per cent by Chevron Texaco and 10 per cent by Dawood Group of Companies.

Enhancing the export capacity of the refinery will bring foreign exchange, reduce burden on country’s balance of payments and open new job avenues in the country, he said.