13.7 C
October 21, 2019
Image default
Business Latest Middle East Muslim World Pakistan Saudi Arabia

Saudi Energy Minister visits Gwadar to inspect site of oil refinery

GWADAR: A Saudi delegation headed by Minister for Energy, Industry, and Minerals Khalid Abdul Aziz D Al Falih visited Gwadar on Saturday.

The delegation inspected the site for the planned oil refinery the Saudi giant Aramco is going to set up in the port city.

Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan was in Gwadar to receive the delegation.

The minister said that the Saudi government is going to make the biggest investment in Pakistan.

The minister said that a memorandum of understanding for the biggest investment will be signed during the current month. The CEO of Al Buainain group, an associate company of Aramco, was also part of the delegation.

Pakistan and Saudi Arabia are likely to sign memoranda of understanding for more than $10 billion Saudi investment in Pakistan this month. The government will also sign similar MoUs with China, the United Arab Emirates and Malaysia over the next two months.