Pakistan, Saudi Arabia discuss investment avenues

ISLAMABAD: A delegation of Saudi companies, led by Deputy Minister of Energy, Industry and Mineral Resources for Mining Khalid Saleh Al-Modaifer met Adviser to PM on Commerce, Textile, Industries and Production, and Investment Abdul Razak Dawood.

The two parties discussed investment prospects in Pakistan’s energy, power and mining and mineral sectors, said a press release issued by the commerce ministry.

As per media reports, Saudi Arabia has vowed to show tangible progress on $20 billion investment commitments before the next meeting of Pak-Saudi Supreme Coordination Council.

“The proposed mega projects are complex and require time and studies but our leaderships want to accelerate work on them,” said Saudi Arabia Deputy Minister of Energy Khalid Saleh Al-Modaifer during an interaction on Friday.

The Gulf state has announced a $20 billion investment package for Pakistan that includes a petrochemical complex, renewable energy projects and investment in mineral resources.