Saudi delegation reaches Pakistan to sign five MoUs
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2025-03-13 05:13:46
ISLAMABAD: A high-level Saudi delegation has arrived in Pakistan today (Sunday) to sign five important Memorandums of Understandings (MoUs) with the federal government.
Information Minister Fawad Chaudhry said that Saudi delegation includes petroleum minister, finance and energy ministers of Saudi Arabia.
During tis six-day visit to Pakistan, the Saudi delegation will sign a MoU to make investment in the Balochistan Reko Diq gold and copper mines.
According to the sources the delegation is also likely to discuss the prospect of setting up oil refineries in Gwadar. Saudi officials are also expected to sign an agreement to sell petroleum products to Pakistan on deferred payments.
Moreover, agreements to privatise two Liquefied Natural Gas (LNG) power plants and sale of phosphate-containing fertilizers to Pakistan are also expected to be signed by the delegation.
Earlier this week, Fawad Chaudhry said that agreements with Saudi Arabia will be transparent and huge investment will be made.
Pakistan and Saudi Arabia also signed three grant agreements to bring major investment in the country after the former invited the Saudi Arabia to become the third strategic partner in the China-Pakistan Economic Corridor (CPEC), Fawad concluded.
