Pakistan will sign agreements in the oil and petrochemicals sectors with Saudi Arabia during a visit by Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to the country, Pakistan’s petroleum minister Ghulam Sarwar Khan has revealed.
The two Asian nations are set to sign a deal to build an oil refinery in Pakistan’s Gwadar region, Okaz newspaper reported, citing Khan as saying.
The Pakistani top official further noted that Saudi Arabia would also be able to invest in the renewable energy and mining industries.
The two states can collaborate in the fields of workforce, infrastructure, health, and agriculture, he added.
In January, Saudi Arabia and Pakistan said they would establish a multi-billion-dollar Saudi Aramco oil refinery in Pakistan’s port city of Gwadar.
Later that month, the UAE and Saudi Arabia offered over $30 billion in loans and investments to Pakistan, which should allow the country to delay a round of borrowing from the International Monetary Fund (IMF).