Saudi Delegation Arrives with $20B Investment Agenda

Staff Report

A Saudi delegation arrived in Pakistan on Sunday with a heavy agenda of investment of around $20 billion.

The key investment is considered to be in setting up an oil refinery in the Gwadar area of Pakistan and investment in the Rekodiq Project as well.

A 50-member high-level trade delegation, led by Saudi Arabia’s Deputy Investment Minister HE Ibrahim Mubarak, has arrived in Pakistan.

They were warmly welcomed by Federal Commerce Minister Jam Kamal Khan and Petroleum Minister Mossadegh Malik at Noor Khan Air Base.Barrick asks for vetting Rekodiq deal from Parliament, apex Court

The purpose of the three-day visit is to bolster trade relations between the two countries by exploring various business opportunities in Pakistan.

To facilitate this, the Ministry of Commerce has meticulously selected a significant number of Pakistani companies across relevant sectors for targeted business-to-business (B2B) meetings with their Saudi counterparts.Saudi Arabia shelves $10 billion oil refinery project

These meetings will pave the way for collaboration between top Pakistani companies and 30 Saudi counterparts across diverse sectors such as agriculture, mining, human resources, energy, chemicals, and maritime.

Additionally, discussions will encompass current refinery operations, IT, religious tourism, telecom, aviation, construction, water, and power generation sectors.

Both Saudi and Pakistani companies and investors will actively seek out investment opportunities during the visit, aiming to generate employment and foster export opportunities in both nations.

Pakistani companies will present their business and investment proposals to their Saudi counterparts, with many anticipated to finalize deals during the B2B sessions.