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Press Release / News

Second and Third Shipments of Indus Refinery arrives at Port Qasim

 KARACHI: June 11, 2007 – The Indus Refinery Limited (IRL) a joint venture project between US and UK Middle East based investors and Pakistani sponsors, today announced the arrival of second and third shipments of Refinery equipment which arrived in Pakistan’s southern Port Qasim in the third week of May and 2nd week of June 2007.

The shipments included refinery equipment for the 100,000 barrel per day petroleum refinery located on the main National Highway near Karachi is expected to facilitate construction to go into full swing.

Mr. Peter J. Hamill, CEO of Indus Refinery Limited while commenting on the arrival of the second shipment said, “I am pleased to apprise all our stake holders that the Indus Refinery project is heading in the right direction with 65% of the refinery equipment having already arrived in Pakistan . The civil works on the project, under the supervision of  SNC-LAVALIN, Canada by DESCON Engineering has started at the refinery site, and full-fledged construction is expected to begin at an accelerated pace.”

During construction of the refinery, the project will provide over 5,000 thousand jobs for both skilled and unskilled Pakistanis and when completed in early 2009 it will provide over eight hundred permanent skilled jobs.

IRL as a Pakistani Public Limited Company has taken the initiative to relocate, reconstruct and operate a state-of-the-art refinery to become the sixth petroleum refinery in Pakistan , enabling it to be one of the top two largest refineries in the country. The IRL refinery has a design capacity of 100,000 BPCD, which is equal to the country’s current largest refinery.

Mr. Muhammad Sohail Shamsi, Chairman of Indus Refinery Limited said “The refinery is being constructed to produce maximum yields of the deficit products requirements of Pakistan, with any surplus to be exported. Thus the country will save on foreign exchange in term of import substitution and it will also earn from the export of surplus products.”  

He further stated, “By the end of 2009 this mega project would produce 30,000 barrels more, which will further strengthen the company’s position in the sector.”

As a fuel refinery, IRL will produce Propane, Butane, LPG, High Quality Unleaded Gasoline, Kerosene, Aviation Fuels, Low Sulphur High Speed Diesel. The foreign shareholders have 89.33% shareholding in the company while the local sponsors have a 10.67% shareholding. As a result of its low capital investment cost, latest production technology, and economies of scale, IRL will have a competitive edge over existing refineries.

Indus Refinery (IRL) signs contract with Descon Engineering

KARACHI : April 14, 2007 – The Indus Refinery Limited (IRL), a joint venture between Middle East based investors and local sponsors, today signed a contract with Descon Engineering Limited which will provide civil works for IRL’s 100,000 barrel per day petroleum refinery located on the Main National Highway near Port Qasim

Under the scope of the contract Descon will provide all personnel, equipment, and services to complete IRL’s earthworks, grading, paving, underground piping, underground electrical trenches, tank dikes, concrete foundations and slabs.  The contract is expected to take 20 months to complete and is scheduled to allow for ongoing mechanical re-erection and electrical and instrumentation work.

Commenting on the signing of the contract between the two entities, Mr. Peter J. Hamill Chief Executive Officer, IRL said, “It is a landmark occasion for IRL and a significant development in the oil & gas sector of Pakistan . IRL has also engaged world class engineering firm SNC Lavalin to act as project manager, Ventech Engineers International as process engineer, and advisory firms Jacobs Consultancy and Vitol to ensure a successful project.”

During construction the refinery will provide thousands of jobs for Pakistanis and when completed in early 2009 it will provide over six hundred permanent skilled jobs.

Mr.Amer Kamran Khuaja, Director Business Development, Descon while giving his remarks on the occasion said, “With a rich experience of over 30years in Plant construction and all disciplines, we are pleased to be part of this mega project. We will be utilizing a fully integrated IT based systems, custom developed by our wholly-owned company Descon Information Systems.  The system is fully integrated from proposal to preparation to project progress and cost control.”     

IRL as a Pakistani Public Limited Company has taken the initiative to relocate, reconstruct and operate a state-of-the-art refinery to become the sixth petroleum refinery in Pakistan , enabling it to be one of the top two largest refineries in the country. The IRL refinery has a design capacity of 100,000 BPCD or 93,000 BPSD, which is equal to the country’s current largest refinery.  

“The refinery is being constructed to produce maximum yields of profitable products. The products produced will meet the deficit requirements of Pakistan , with any surplus to be exported. Thus the country will save on foreign exchange in term of import substitution and it will also earn from the export of surplus products” said, M. Sohail Shamsi, Chairman, IRL.

He further stated, “By the end of 2009 this mega project would produce 30,000 barrels more, which will further strengthen the company’s position in the sector.”

As a fuel refinery, IRL will produce Propane, Butane, LPG, High Quality Unleaded Gasoline, Kerosene, Aviation Fuels, Low Sulphur  High Speed Diesel. The foreign shareholders have 86.7% shareholding in the company while the local sponsors have a 13.3% shareholding. As a result of its low capital investment cost, latest production technology, and economies of scale, IRL will have a competitive edge over existing refineries.

About IRL: Indus Refinery Limited (IRL) is a joint venture between Middle East based investors with 86.7% shareholding and local sponsors with 13.3%. The Board of Directors comprises business, finance and industry professionals with vast and diversified Oil, Gas, and related industries’ experience. After its completion, IRL with capacity of 100,000 barrels per calendar day, will be the sixth petroleum refinery in Pakistan and will rank amongst the two largest in the country.

About Descon: Descon has been highly involved in high profile oil and gas projects from facilities revamp to grass root projects.  It has delivered engineering, manufacturing, construction, commissioning, maintenance, and EPC services to refineries, gas fields, process plants, pipelines, LNG & LPG plants and storage facilities. Descon is a HSE focused company.  As such all its personnel and environmental protection systems are ISO compliant.

MOU Sign between IRL and FOTCO

Fotco and IRL entered into a Memorandum of Understanding on 1 September 2006 for the provision of jetty infrastructure and access for IRL.  Under the terms of the MOU Fotco and IRL will enter into a formal agreement whereby Fotco will construct a second jetty and pipeline system capable of handling IRL’s crude supply and refined products export requirements and IRL will pay an annual fee to Fotco for the use and access to this infrastructure.  The formal agreement is pending execution and approval by the Minister of Shipping and Ports and the Port Qasim Authority

 

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