The Saudi govt will make investment in a project to explore Iron and Copper in Chiniot district of Punjab.
ISLAMABAD: (Urdu Point/Pakistan Point News-Jan 3rd, 2020) Saudi Arabia has decided to make huge investment in Pakistan, the sources said here on Friday.
Saudi Arabia, they said, would invest money in projects to explore Copper and Iron in Chiniot district of Punjab.
“Saudi Arabia nodded to make huge investment in exploring Iron and Copper in Chiniot district of Punjab very soon,” the sources said, adding that “the project of exploring mineral in the district is related to China-Pakistan Economic Corridor (CPEC),”.
“The reserves of Iron and Copper of worth $7.5 billion would be explored through the project being started by Saudi Arabia,” said the sources. Saudi Arabia Crown Prince Mohammad bin Salman during his to Islamabad has announced investment in Pakistan.
The sources said that the Crown Prince directed for speedy completion of the project. Saudi Minister for Energy also visited Pakistan and called on Advisor to PM Razzaq Daud and discussed progress on $20 billion investment in Pakistan.
During his meeting with Mr. Daud, the Saudi Minister for Energy also said that a refinery would be established in Pakistan—a step towards heavy investment in Pakistan.
It may be mentioned here that when Saudi Arabia announced to make investment in Pakistan many other Saudi investors also decided to do investment in Pakistan. Al-Thamimi group of Saudi Arabia also held a meeting with Prime Minister Imran Khan. The PM appreciated their decision and assured them that the foreign investors would be provided maximum facilities in Pakistan including facility of one-window operation.
