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Saudi Arabia To Build $10 Billion Oil Refinery In Pakistan's Gwadar

Saudi Arabia says it plans to set up a $10 billion oil refinery in Pakistan's deepwater port of Gwadar, which is being developed with the help of China."Saudi Arabia wants to make Pakistan's economic development stable through establishing an oil refinery and partnership with Pakistan in the China-Pakistan Economic Corridor," Saudi Energy Minister Khalid al-Falih told reporters in Gwadar on January 12.Falih made the comments as he visited the site for the proposed oil refinery, along with Ghulam Sarwar Khan, Pakistan's minister for petroleum and natural resources.Located in the southwestern province of Balochistan, Gwadar is the crown jewel of China’s $60 billion investment in its Belt and Road Initiative projects in Pakistan.Beijing has pledged to invest $60 billion as part of the China-Pakistan Economic Corridor to help turn Pakistan into a major route linking western China to the world.......................

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Helpline 1090
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