Saudi Arabia to fund Diamer-Bhasha, Mohmand Dams, other energy projects
- By Web Desk -
- Feb 13, 2019
ISLAMABAD: Alongside the project of setting up an oil refinery in Pakistan, Saudi Arabia has decided to provide funds for Diamer-Bhasha dam, Mohmand dam and other power projects, sources told ARY News on Wednesday.
The sources said that Pakistan and Saudi Arabia would ink a memorandum of understanding (MOU), during Saudi crown prince’s visit to Islamabad, through which Riyadh would provide SAR375 million for Diamer-Bhasha dam and SAR300 million for Mohmand dam.
Saudi Arabia will also provide SAR1.2075 billion for five power projects in the country. The sources said that Riyadh would provide SAR153.7 million for Jamshoro power project and SAR131.2 million for Jagran hydropower project.
It is pertinent to mention here that agreements worth $20 billions are expected to be signed during the visit of Saudi Crown Prince Muhammad bin Salman to Pakistan, sources privy to Saudi Arabia’s embassy informed ARY News.
Read More: Pakistan entering a new era of ties with Saudi Arabia: FM Qureshi
The sources close to the embassy said, accords worth $20 billion, including the project of setting up oil refinery, will be inked between the two countries.
Upon arrival, the crown prince will be received by Prime Minister Imran Khan and the federal cabinet. During his two-day long visit, the visiting dignitary is likely to stay at the Prime Minister House, sources added.