ISLAMABAD: Saudi Arabia will invest $10 billion in Gwadar, Pakistan, said Petroleum Minister Ghulam Sarwar Khan here on Monday.
Ghulam Sarwar was talking to media upon his return from Gwadar here.
The minister said, “Saudi Arabia will invest $10 billion in Oil Refinery and Petro-Chemical Complex in Gwadar.”
"Saudi Arabia will set up an oil plant that will refine over 2-3 tonnes lac oil per day,” he said and added that construction process of the oil refinery is expected to begin this year and will be completed in PTI government tenure.
He further said that Saudi Arabia has also shown interest in phosphate fertilizer making factory and alternate energy projects, while Saudi Oil Minister also expressed desire to export LNG to Pakistan.