LAHORE – For the $20 billion investment from Saudi Arabia, Four megaprojects including two steel Mills have been selected to be proposed toSaudi delegation.
The country’s first-ever local iron-ore steel mill to be established inChiniot and another one in Chaghi tops the list of four potential projectsselected by the government from across the country for investment by SaudiArabia, it emerged on Sunday.
It may be recalled that Pakistan has signed a Memorandum of Understanding(MoU) for economic cooperation in mineral resources.
The MoU was part of the several $20 billion agreements and MoUs signed onFeb 17, 2019 for different sectors, including power production,establishment of refinery, petrochemical plant, promotion of sports andtechnical assistance in standardisation sector, at a ceremony held at PrimeMinister House on the occasion of Saudi Crown Prince Mohammad Bin Salman’svisit.
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Officials said that the four projects were picked out of a pile ofproposals submitted by the provincial, Azad Jammu and Kashmir andGilgit-Baltistan governments at a high-level meeting held last month inIslamabad.
