Islamabad: China and Saudi Arabia will co-finance a state-of-the-art oil refinery in Gwadar, at a total cost of USD 10 billion, according to news published on November 8.
The news source mentioned that initially, the Chinese companies will handle the operations of the refinery once the project is completed. As per the details, Saudi Arabia’s Crown Prince and Prime Minister (PM) Mohammed bin Salman is scheduled to visit Pakistan this month. It is hoped that during the visit, Pakistan will get a USD 4.2 billion bailout package.
Moreover, Saudi Arabia is expected to make solid investments in the country. The news source revealed that during the visit, several petroleum agreements will be signed between the two countries.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
