RAWALPINDI, March 14: The Attock Oil Company and its affiliates including Attock Refinery Limited and Attock Petroleum Limited, have approved investments of over $400 million in the country, it is learnt on Sunday.

Informed sources said the Attock group of companies will also lay a cross-country petroleum pipeline from Machike (Lahore) to Taru Jabba (Peshawar) via Morgah (Rawalpindi). This project is likely to be initiated in July this year, and this huge investment will bring about major benefit and efficiency into the economy of Pakistan.

According to industry sources, this environment-friendly mega scheme is expected to bring needed efficiency in the transportation of petroleum products, and benefit three million consumers.

Apart from this, the Attock Group is also planning to build a 150mw power plant in Rawalpindi district. This mega project will improve the much-needed voltage regulation, reduce load shedding and line losses, energy experts said, adding it will create jobs and economic activities in the country.

With the approval of the board of directors, the Attock Refinery Limited is also discussing with the ministry of petroleum, plans to upgrade and expand the refinery at Morgah.

The Attock Oil Company, which is the holding company of ARL, and APL, has already authorised these projects. It is part of its continuing commitment to the development of petroleum and energy sector infrastructure in Pakistan. AOC is one of the oldest petroleum companies of Pakistan, incorporated in 1913.