A Saudi power company, ACWA Power, has expressed its willingness to invest $4 billion in Pakistan’s renewable energy sector.
A delegation of Saudi investors, headed by ACWA Power Chairperson Mohammad A Abunayyan, met with a Pakistan delegation headed by Finance Minister Asad Umar.
Just completed meeting with saudi minister for energy, industries and mineral resources , His Excellency Khalid Al-Falih and his team. Wide range of investment projects worth billions of dollars discussed. MOU signing later today. pic.twitter.com/dMBGSijeP4
— Asad Umar (@Asad_Umar) February 17, 2019
ACWA Power is keen on investing in Pakistan’s energy sector, said the chairperson. The company has power generation and desalinated water production plants in countries in the Middle East, Africa and South East Asia.
The announcement comes on the same day Saudi Crown Prince Muhammad Bin Salman arrived in Pakistan.