Kethy Oil and Gas signs petrochem MOU with Pakistan

27-Jan-06

Canadian firm Kethy Oil and Gas Company has signed a memorandum of understanding (MoU) with the Sindh government Tuesday to establish a petrochemical plant in the province to produce coal bye-products, including diesel, jet fuel, chemicals and plastics. The Canadian company will bring in the latest technology to exploit methane gas lying below the coal reserves and will invest US$2 billion on the exploration, development and production of coal's bye-products. The coal rich province of Sindh will explore and utilize these reserves for the upcoming project. Basic infrastructure exists in the Thar area, which connects the coal fields to Karachi by road and rail links. This gas will be converted into diesel, jet fuel and plastics and sold locally to meet the rising demands for these products.