Dubai, January 22 (TNS): Pakistan is planning a giant oil city near the port city of Gwadar, Arab media reported on Monday.
The project would simplify China’s oil imports from the Middle East, reducing the average time it takes for shipments from the Gulf to reach Shanghai from 40 to just 7 days, a report in UAE base “The Oil and Gas Year” stated.
A Chinese company is already working on the city plan, the report added.
No price tag was offered for the ambitious plan, though separate reports in the Pakistani media suggested estimates on the order of USD 2 billion-USD 2.7 billion.
