KARACHI, Aug 30: Bosicor Pakistan Limited has commenced production of motor gasoline and high octane blending component (HOBC) from July 1, 2004. The refinery, located at Mouza Kund, Balochistan, has already started commercial operation of crude, merox and LPG, says a press release.

A spokesman of the company said that all units of the refinery were now operating commercially. The refinery is selling its products to Pakistan State Oil under a long-term product sale and purchase contract.

The spokesman has not mentioned about the production quantity of each product and their impact on the local market. Recently, the company had restructured its debt through issue of privately placed term finance certificate amounting to Rs750m (including a green shoe option of Rs250m). It further increased its equity base by way of 40pc right share issue amounting to Rs700m approximately.