As per the official news, Pakistan is set to finalize a deal with Saudi Arabia for setting up an oil refinery in the country. This deal is expected to be signed during the World Mineral Conference, which Pakistan is hosting for the first time. The conference will take place on July 31 and August 1 and will feature participants from Saudi Arabia, the UAE, and other countries.
The World Mineral Conference is an international event that aims to promote the mineral sector and attract investments and partnerships in this field. Pakistan has invited experts, policymakers, and investors from various countries to attend the conference and explore the opportunities and challenges in the mineral industry. Pakistan hopes to showcase its potential and resources in this sector and foster cooperation and development among different stakeholders.
The oil refinery deal with Saudi Arabia is one of the major outcomes that Pakistan expects from the conference. This deal is part of a $15 billion investment package that Saudi Arabia pledged to Pakistan in 2019. The oil refinery project is expected to boost Pakistan’s energy security and reduce its dependence on oil imports. It will also create jobs, generate revenue, and enhance the bilateral relations between Pakistan and Saudi Arabia.
The signing of the deal will mark significant progress for Pakistan’s oil refinery project, which has been in the works for several years. It will also demonstrate the commitment and collaboration of both countries in the oil sector. This partnership is expected to bring economic benefits and contribute to the overall growth and development of Pakistan’s energy infrastructure.
