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Saudi Arabia Poised to Invest Rs5 Billion in Pakistan

Saudi Arabia Poised to Invest Rs5 Billion in Pakistan

The upcoming visit of Saudi Foreign Minister Faisal bin Farhan Al Saud, leading a high-level delegation of Saudi investors and economic experts to Pakistan on April 17, signals a promising development in bilateral economic cooperation. The delegation’s focus on discussing investments worth $5 billion across various sectors, including mining and tourism, underscores Saudi Arabia’s commitment to bolstering economic ties with Pakistan.

Key projects on the agenda include the development of Reko Diq and Diamer Basha Dam, as well as initiatives aimed at enhancing tourism in Chiniot. Additionally, discussions will revolve around purchasing shares worth $1 billion in Rekodik, expanding small oil refineries for oil purification, and exploring agreements on mining projects in Khyber Pakhtunkhwa.

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The timeline for negotiations suggests that formal agreements on these investment projects could be reached within the first or second week of May. This timeline aligns with the expected visit of Crown Prince Mohammed bin Salman to Pakistan within two weeks, during which the finalization of investment agreements is anticipated.

The culmination of these agreements signifies the beginning of substantial Saudi investments in Pakistan, paving the way for significant economic success and fostering closer bilateral ties between the two nations.