Pakistan is actively seeking Saudi Arabia’s investment in several key projects, including the Diamer-Basha dam, as part of a broader $5 billion investment package. The discussions between the two nations aim to explore options for Saudi Arabia’s involvement in these projects, with a focus on addressing the financing gap for the Diamer-Basha dam.
Under the proposed investment plan, Saudi Arabia will have the option to invest $1.2 billion in the dam project for fixed returns or to become an equity partner, contributing to the financial closure of the scheme. The dam, once completed, will have significant capacity for electricity generation and water storage, offering substantial benefits to Pakistan’s energy and water management sectors.
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The visit of a high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan Al Saud, underscores the importance of enhancing bilateral economic cooperation between the two countries. During the visit, discussions will center on finalizing the projects that Saudi Arabia could potentially invest in, including infrastructure, energy, and tourism initiatives.
While no final agreements are expected to be signed during the visit, it represents a crucial step towards realizing the planned investment package. The Pakistani authorities are hopeful that Saudi Arabia’s investment will provide much-needed support for the country’s development initiatives, particularly amid challenges in securing financing from international institutions.
The visit also highlights the growing partnership between Pakistan and Saudi Arabia, as both countries work together to strengthen economic ties and promote mutual prosperity. Overall, the visit sets the stage for closer collaboration and increased investment between Pakistan and Saudi Arabia in various strategic sectors.
