A Saudi delegation has agreed to install the world’s third largest oil refinery in Gwadar city so Central Asian countries can be supplied.
They made this commitment during their visit on Tuesday.
The refinery will also meet the oil needs of Pakistan and China.
Also read: Pakistan to expedite CPEC projects
The delegation is headed by the Saudi foreign minister who was joined by the minister for petroleum.
The chairman of the Gwadar Port Authority briefed the team about the free economic zone. Gwadar Development Authority Director-General Dr Sajjad Hussain told them about the CPEC project. The delegation visited the port and desalination plant.
The Kingdom has been invited to invest in an 80,000-acre ‘mega oil city’ in Gwadar. The oil imported from Gulf countries will be stocked here.
The Saudi delegation showed a keen interest in investment and expressed satisfaction with the security arrangements.
A Chinese-national wearing a white shalwar kameez with a black waistcoat also briefed the delegation.
Saudi companies will construct the motorway and railways network in Balochistan.
Pakistan has invited Saudi Arabia to become the third partner in the China-Pakistan Economic Corridor.