Saudi Arabia to set up USD10bn oil refinery in Pakistan
Saudi Arabia plans to set up a USD10bn oil refinery in Pakistan’s deepwater port of Gwadar, the Saudi energy minister said on Saturday. Saudi Energy Khalid al-Falih said that Crown Prince Mohammad bin Salman would visit Pakistan in February to sign the agreement. The minister added that Saudi Arabia would also invest in other sectors. The Saudi news agency SPA earlier reported that Falih met Pakistan’s petroleum minister and Maritime Affairs Minister Ali Zaidi in Gwadar to discuss cooperation in refining, petrochemicals, mining and renewable energy. It said Falih would finalize arrangements ahead of signing memorandums of understanding.
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