ISLAMABAD, April 25: Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon has appreciated Kuwaiti Midrock Company's $2 billion investment in lube oil refinery, naphtha cracker and petrochemical complex at Port Qasim.

He was talking to President of Kuwait Midrock Tussania Company Sheikh Humoud Al-Sabah who called on him here on Wednesday.

During the meeting Midrock president informed the minister that the government of Sindh had allocated 500 acres of land at Port Qasim for the proposed refinery, naphtha cracker and petrochemical complex.

He said that Midrock was also looking to invest in an oil refinery and LPG terminal project at Gwadar.

Mr Jadoon said there exists huge potential for the investors in oil and gas projects and the government is committed to facilitate them.

He said that the government was exploiting the untapped hydrocarbon deposits and alternate energy resources to sustain the GDP growth rate for the socio-economic uplift of the masses.

He said that President Musharraf's visit to Kuwait in December 2005 had opened up new avenues of multi-faceted cooperation between the two brotherly Muslim countries.

Ambassador of Kuwait Faisal Mulafi, Additional Secretary Petroleum Shaukat Hayat Durrani and members of Midrock delegation were also present during the meeting. —APP