Senator Waqar Ahmed Khan Chairman WAKGROUP is an eminent political personality and philanthropist. Recently, he signed a pact with CEEC of China and Guangdong Electrical Design Institute (GEDI) for construction of state-of-the-art oil refinery in his hometown Dera Ismail Khan, KPK, Pakistan. The huge project named Falcon Oil refinery, worth 3.8 billion USD, is deep conversion with capacity of 100,000 barrels per day. This would be the first refinery of its nature to be constructed in the country. The project is expected to be completed in 30 months after commencement of work.
Once constructed, the milestone project would have 4-million-ton storage capacity. It is pertinent to mention here that today’s storage capacity of Pakistan lasts for 10 days. The addition of 4-million-ton would increase the storage capacity from 10 to 45 days, says Mr. Waqar. Moreover, this refining complex will have its own 100 Mega Watt power generation plant. The surplus electricity will be given to national grid so that people of DIK can have free electricity. The cost of surplus energy production will be borne by the project itself.
Mr. Waqar, son of late renowned politician Senator Gulzar Ahmad Khan, has an across-the-board understanding on issues that has immense importance related to Pakistan’s future. Those key issues include energy and its dimensions and FATA and its political and economic challenges. By laying the foundation of an oil refinery in DIK, he fulfilled his promise made to the people of this country, he said.