KARACHI�Shell Pakistan Ltd. has acquired a 26% share in Pak Arab Refinery Co. Ltd.'s (Parco) proposed refined product pipeline project from Karach to Mehmood Kot, near Multan, Punjab province.
Parco is building a 100,000 b/d crude distillation capacity refinery at Mehmood Kot (OGJ, Mar. 11, 1996, p. 43).
A Shell spokesman said that as soon as construction begins on the pipeline, Shell will arrange $143 million as its share of the project. However, the pipeline was previously expected to be on line by September 2000 (OGJ, Mar. 6, 2000, p. 38).
Parco will have a 51% stake in the line, while Pakistan State Oil will have 12%, and Caltex Pakistan will have 11%.
The spokesman also said Shell Pakistan plans to invest $20 million this year on the expansion of its Pakistani marketing network.
He said that the company has invested $100 million in Pakistan on its marketing network, establishing 440 service stations since 1996.