Pakistan and Saudi Arabia to sign over $10bn in investment deals

Imran Khan and Mohammed bin Salman. Pic/AFP

Pakistan and Saudi Arabia are likely to sign over USD 10 billion investment agreements, including a multibillion dollar oil refinery in Gwadar, during the upcoming visit of Crown Prince Mohammed bin Salman.

So far, no date has been given for the visit of the Crown Prince but he is expected to arrive on a two-day trip before the end of this week. Dawn reported that three major memorandum of understanding (MoUs) amounting to over USD 10 billion will be inked during the Saudi Prince's visit.

"Three mega government-to-government MoUs will be signed and their total volume will be in double digit billion dollars," Board of Investment (BoI) Chairman Haroon Sharif told the daily. He said the three MOUs will be signed in the fields of oil refining, LNG and mineral development. Besides the MoUs, other business agreements are also likely to be signed.

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