Saudi Arabia to Invest in Gwadar’s Oil Refinery

Posted in : Local News

(added last year!)

Saudi Arabia has shown interest to invest in a new oil refinery in Pakistan’s growing deep-sea port based-in Gwadar. This news was announced in Islamabad on Thursday, 4th October. The agreement follows a visit last month by Pakistan’s new Prime Minister Imran Khan to the Gulf kingdom as he seeks to attract foreign investment. The Saudis “have shown interest that they want to immediately invest in (the) refinery”, petroleum minister Sarwar Khan said. “This has been agreed from both sides.” The agreement is set to be signed between Pakistan State Oil (PSO) company and Riyadh’s state oil giant Saudi Aramco. Gwadar’s port is being developed as part of the $60 bn China-Pakistan Economic Corridor (CPEC), an ambitious plan to build energy and transport links connecting the western Chinese region of Xinjiang with the Arabian Sea via Pakistan, as part of Beijing’s broader Belt and Road initiative. Gwadar, which is home to the world’s deepest seaport, is a part of Pakistan’s mineral-rich southwestern Balochistan province which is targeted by the ethnic, Islamist and sectarian militants.

Saudi Arabia to Invest in Gwadar’s Oil Refinery

Blog post Written by AFP and you can visit the original article at

Tags : Saudi, Arabia, Invest, Gwadar, Oil, Refinery, Investment, Beijing, Chinese, Petroleum, Minister, Sarwar Khan, China, Pakistan, PSO, Invest, Sea, Port, Balochistan

Related Posts

» Saudi crown prince to meet president, army chief today

» Pakistan to Become Home to the World’s Third Largest Oil Refinery

» Saudi Arabia Work Visa Fee For Pakistanis To Be Reduced

» Fawad Khan Invited by Saudi King for Lunch After Performing Hajj

» PTI govt decides to investigate metro bus projects

» Pakistan and China ink MoUs on gas pipeline, refinery

» Saudi Arabia bans selfies, photos and videos at Islam's holiest sites

» No one invested more in war on terror than Pakistan: Foreign Minister Khawaja Asif

(added last year!) / 540 views

Comments (0)

Search this blog..

Top Stories of the week

Existing Users Login
User ID  
Join Now / Forgot Password

also you can..
Login with Facebook