Pakistan To Sign $15 Billion MoU With Saudi Arabia During Crown Prince’s Visit
New Delhi: The Imran Khan-led Pakistani Government is expected will sign three Memorandum of Understanding (MoU) with the Saudi Government during the visit of Saudi Arabia’s Crown Prince Mohammed Bin Salman to Pakistan.
Prince Mohammed Bin Salman will arrive in Pakistan on a two-day visit on February 16, Saudi Ambassador to Pakistan Nawaf bin Said Al Maliki informed on Monday.
Chairperson of Pakistan’s Board of Investment (BoI) Haroon Sharif said, “The first ever visit by the Saudi crown prince is highly important for Pakistan and its economy. The bilateral economic and trade ties will be strengthened as a result of this royal visit.”
Sharif shared that investment worth over $10 to $15 billion is expected to come into Pakistan. He said 40 major businessmen from the private sector are coming to Pakistan along with the top Saudi dignitaries.
“The two countries will sign more than 10 MoUs in different fields including an oil refinery, petrochemical complex, minerals, alternate energy, oil facility on deferred payments and exchange of prisoners etc,” he said.
Pakistan is likely to sign a number of investment deals, including the construction of multi-billion-dollar oil refinery in the port city of Gwadar, during Crown Prince Salman’s visit. Saudi Arabia had already pledged a $6 billion package for Pakistan.