Pakistan expects $10 Bilion refinery deal with Saudi Arabia this year
News, Online Service, Online Services, Technology, TV, Uncategorized October 5, 2023 1 Comment on Pakistan expects $10 Bilion refinery deal with Saudi Arabia this yearPakistan is anticipating the finalization of a long-awaited $10 billion deal with Saudi Arabia’s oil company, Aramco, for the construction of a refinery in Hub within the ongoing year 2023. The Special Investment Facilitation Council (SIFC), jointly managed by both the military and civilian sectors, is also exploring avenues to secure approximately $7 billion from Saudi Arabia. In exchange, Saudi Arabia would acquire stakes in the Reko Diq project.
High-ranking sources have confirmed that the necessary policy incentives have been approved under the Greenfield Refinery Policy 2023 to attract investment from Saudi Arabia. It is also being considered that Saudi Arabia may obtain shares in the $7 billion Reko Diq project through a feasible transaction model with the assistance of the Saudi Wealth Fund.
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