Pakistan likely to get $15 billion investment package from Saudi Arabia, one of the largest ever in history of KSA
ISLAMABAD - Pakistan is set to ink investment deals worth $30 billions with Saudi Arabia, UAE and China which would the largest ever investment package in the history of Pakistan.
As per the report, Pakistan investment deals will help revive the ailing economy of the country.
“We will be signing agreements with investors from Saudi Arabia, the UAE, Germany, Malaysia, and Korea in January which is worth more than$30 billion,” Haroon Sharif, Minister of State and Chairman, Board of Investment, told a Saudi newspaper. ------------------------------
The country has firm and solid commitments from three of its allies, namely Saudi Arabia, the UAE, and China, ensuring that the country becomes the hub of diversified investments in the coming years, Sharif said.
“We are going to sign several Memorandum of Understanding (MoU) with Saudi Aramco and Acwa Power within a few weeks. Saudi Aramco is going to set up an oil refinery and petrochemical complex in Pakistan while Acwa Power will invest in Pakistan’s renewable energy sector,” Sharif told the newspaper.
The country is expected to receive around $15billion in investment from Saudi Arabia in the next three years. “The inflow of investment for the oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to$10 billion.”
Islamabad is also expecting a substantial amount of investment from the UAE, with major focus sectors continuing to be petrochemical, real estate, port and shipping development, agriculture, and corporate farming.