TransAsia to Relocate 100,000-Barrel Refinery from Italy to Pakistan

BANGALORE, INDIA--July 2, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--TransAsia Gas International LLC (Dubai, United Arab Emirates), a subsidiary of the Al Ghurair Group of Companies LLC, has firmed up plans to relocate a $600 million refinery project from Italy to Pakistan. TransAsia's project follows close on the heels of an earlier initiative taken by the Indus Refinery Limited (Karachi), a joint venture between investors from the U.S., the U.K., and the Middle East, as well as sponsors from Pakistan, to set up a 93,000-BBL/d refinery in Thatta near Karachi, with equipment procured from a unit owned and operated by Petro-Canada (NYSE:PCZ) (Calgary, Alberta) in Oakville, Ontario. Canada-based SNC-Lavalin International Incorporated (TSX:SNC) (Montreal, Quebec) has been awarded the engineering, procurement and construction contract.