Saudi Arabia to Invest in petroleum refinery in Pakistan

Saudi Arabia to Invest in petroleum refinery in Pakistan

RIYADH - Saudi Arabia has confirmed that it is interested in investing in a petroleum refinery in Pakistan.

The MoU in this regard will be signed after obtaining cabinet approval.

The Kingdom expressed interest in development of mineral resources in Pakistan. For the purpose, the federal government and the government of Balochistan will consult, following which a delegation of the kingdom will be invited to visit Pakistan.

Earlier in the day, after the inauguration of the FII Conference, a Pakistan-specific session was organized, in which Prime Minister Imran Khan underlined Pakistan’s priorities towards optimizing the economy and attracting foreign investment.

Stressing the focus of his government on human resource development, he highlighted the potential of Pakistan’s youth, identified lucrative investment opportunities in the tourism sector, minerals, coal and gas exploration, and Information Technology.