There’s good news for Pakistan’s mining industry! Saudi Arabia is reportedly planning a big investment of up to $1 billion in the Reko Diq Copper Gold project, located in the Chagai district of Balochistan. This project is a major source of these valuable minerals.
To make sure everything goes smoothly, the government’s Special Investment Facilitation Council (SIFC) is working hard to clear any roadblocks that might slow things down.
But this is just the beginning! Prime Minister Shehbaz Sharif is putting together a special team with people from all sides involved in the project. This team will help ensure that Saudi Arabia’s investment is completed successfully.
This isn’t the only good news. Pakistan and Saudi Arabia are planning to sign even more agreements for future mining investments! This shows a strong partnership between the two countries.
Earlier this month, Prime Minister Sharif met with Saudi Arabia’s Crown Prince Mohammad bin Salman. They agreed to speed things up on a separate investment deal worth a whopping $5 billion! Their discussions focused on strengthening the close relationship between the two countries and finding ways to work together even more in different areas.
According to a joint statement released after the meeting, both leaders emphasized Saudi Arabia’s support for Pakistan’s economy and their desire to see more trade and investment happening between the two nations. They also agreed to get moving quickly on the first part of the $5 billion investment package.
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