Pakistan and Saudi Arabia will sign a memorandum of understanding (MoU) to build the Saudi Aramco oil refinery in the port city of Gwadar during a two-day visit of Crown Prince Mohammed Bin Salman.
Prince Mohammed is expected to visit Pakistan on the afternoon of Feb. 16, where he is expected to sign a number of agreements and MoUs in the oil as well as the petrochemicals divisions.
“Saudi Aramco oil refinery is expected to bolster the Kingdom’s role in the China–Pakistan Economic Corridor (CPEC) – a package of infrastructure projects that are currently under construction throughout Pakistan,” Ghulam Sarwar Khan, Federal Minister for Petroleum, told Okaz newspaper.
“Saudi investments in Pakistan are mainly concentrated in fields of oil refining, petrochemicals, renewable energy and mining,” he noted.
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