ISLAMABAD – Saudi Crown Prince Mohammad bin Salman would arrive in thecountry in the first week of February and an MoU for establishing apetro-chemical complex was still being worked out on the request of Riyadh.
Pakistan has already received $2bn in cash deposit from Saudi Arabia at aninterest rate of 3.18pc while the third tranche of $1bn is due in the firstweek of February.
The Saudi oil facility would also start rolling out this month with anaverage $274 million per month.
According to *Arab News*, it is expected that Pakistan will sign a numberof investment deals including the construction of mega oil refinery in themonth of February in the presence of a high-level Saudi delegation. Theconformation to this effect was given by Information Minister FawadChaudhry.ARTICLE CONTINUES AFTER AD
“The oil refinery project is the biggest investment project of Saudi Arabiain Pakistan,” Chaudhry was quoted as saying by *Arab News*
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“A 15-member delegation of Saudi Arabia visited Gwadar from Karachi as partof the finalisation process of the MoU for Aramco oil refinery,” HaroonSharif, Minister of State and Chairman of Pakistan Board of Investment(BoI), told *Arab News.*
“We have finalised the MoU for the construction of Aramco oil refinery[…] overall directions have been agreed upon and the agreement will besigned at an appropriate time,” Sharif said.
