Saudi Energy Minister arrives to inspect Gwadar oil refinery site

GWADAR: The Saudi Minister of Energy, Industry and Mineral resources Khalid bin Abdulaziz Al-Falih arrived in Gwadar on Saturday to inspect the oil refinery site, ARY News reported.

A delegation of top officials led by Petroleum Minister Ghulam Sarwar Khan and Balochistan’s provincial ministers received the Saudi Minister.

“The state of art oil refinery in Gwadar will be launched with the Saudi investment,” said Petroleum Minister Khan. “The project will be the biggest investment by Saudi Arabia in Pakistan.”

A Memorandum of Understanding (MoU) in regard to the project will be signed during the upcoming visit of Saudi Crown Prince Mohammad bin Salman in February, he added.

Sources relayed that officials in Islamabad and Riyadh will likely sign additional MoUs pertaining to cooperation in mineral resources.”The kingdom is interested for investment in oil refinery, petrochemicals, renewable energy and mining apart from the $10bn plus Saudi investment which is expected to be signed.”

The $10bn investment will be in addition to the Saudi package of $6bn approved by the kingdom to Pakistan during Prime Minister Imran Khan’s visit to Saudi Arabia in October last year.