Saudi Arabia to set up $10 bln oil refinery in Pakistan

15/01/2019 Argaam

 

Saudi Arabia will set up a $10 billion oil refinery in Gwadar, Pakistan, Saudi Energy Minister Khalid Al-Falih told Dawn newspaper recently.

 

Saudi Crown Prince Mohammed bin Salman would visit Pakistan in February to sign an agreement, he added.

 

According to the minister, the oil refinery would prove to be a landmark development for the entire region and contribute to Pakistan’s economic development by establishing an oil refinery and partnership in the China-Pakistan Economic Corridor.

 

The refinery will be developed in "minimum time", Al-Falih said, adding the Kingdom was also interested in investing in other sectors.

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