Saudi Arabia to Invest $21billion in Pakistan in 3 Phases

$21billion

The Kingdom of Saudi Arabia would be investing $21billion in Pakistan in 3 phases—which are the short-term, middle-term and long-term projects under its investment plan, as per the media reports.

As per the investment plan that was released during the historic visit of the Saudi Crown Prince—Mohammad Bin Salman, the Saudi Prince would be investing $21billion in the various sectors of Pakistan.

The investment on the RLNG plants, the Saudi Fund for Pakistan and the Aqua Power would be the first phase of the short-term projects. This short-term investment would come to Pakistan in a year or two and its volume would be $7billion dollars, as per the revealed plan.

The second phase of mid-term investment would reach completion within 2 to 3 years’ time. This investment would be covering the food and agriculture and Petro-chemical projects.

Also Read: PM Khan Decides to Host Entire PSL-5 in Pakistan

The volume of the third phase of long-term investment would be of $12billion. The Aramco refinery project and mineral development of projects would be implemented in this phase of the Saudi investment.

Pakistan and Saudi Arabia on Sunday signed 7 Memorandum of Understandings (MoUs) for cooperation in various fields.

Ghulam Sarwar—the federal minister for Petroleum and the Saudi Energy Minister—Khalid al-Falih signed MoUs for the establishment of an oil refinery and for boosting cooperation in the fields of minerals.

Asad Umar—the finance minister and his Saudi counterpart inked MoUs regarding the import of Saudi goods and for the provision of funds for the development projects by the government of Saudi Arabia.

More Read: Saudi Arabia to Establish Health Center to Honour Pakistani Hero

Leave a Reply

Your email address will not be published. Required fields are marked *