ARL signs $600m agreement for major refinery upgrade

By MG News | June 19, 2025 at 09:25 AM GMT+05:00

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June 19, 2025 (MLN): In a major development, Attock Refinery Limited (ARL) has signed a $600 million agreement with Italy’s STP Studi Technologici Progetti S.p.A. for the Front End Engineering Design (FEED) and Project Management Consultancy (PMC) of its refinery upgradation project.

This agreement marks a crucial step in ARL’s strategy for value addition and environmentally friendly production. The company has already completed FEED studies for the addition of a Continuous Catalyst Regeneration (CCR) unit and the revamp of its Diesel Hydro Desulfurization Unit.

The project is part of ARL’s long-term vision to modernize operations and meet global environmental standards.

The agreement was disclosed to the Pakistan Stock Exchange (PSX) under clause 5.6.1 of its Rule Book and relevant sections of the Securities Act, 2015.

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