Saudi Arabia’s Crown Prince Mohammad Bin Salman inked at least seven investment accords with Pakistan worth $20 Billion; most contracts on oil, gas and mines.
According to Arab news, building Aramco oil refinery in Gwadar port of southwest Pakistan is one of the seven agreements which is signed by both parties. The Aramco oil refinery worth $10 billion.
Meanwhile, the Saudi Development Fund’s investment agreement on crude oil and benzine with Pakistan, refining petrochemicals, renewable energy, mineral resources, sports and generating power in Pakistan were other agreements signed between Saudi and Pakistan.
Saudi in recent months have helped Pakistan’s economy afloat, whose foreign exchange servers with a $6 billion loan was rapidly dwindling.
According to analyst, Pakistan considers crown prince’s visit as the biggest state visit since Chinese President Xi Jinping in 2005, in which China cited major financial aid to Pakistan’s infrastructure projects.
Saudi Arabia supporting Pakistan’s economy marks a deepening ties between allies, and in return Pakistan’s army lending support to Saudi and its royal family.
It comes after Saudi Crown Prince traveled to Pakistan on Sunday, as he started his tour to South Asia and China.
