Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

Saudi Prince Salman to visit Pakistan; may sign $15-bn oil refinery deal

ANI/ 12 Feb 19 | 05:44 AM

Saudi Crown Prince Mohammed bin Salman

Crown Prince of Saudi Arabia Mohammad bin Salman will embark on a two-day visit to Islamabad on Saturday (February 16), Saudi Ambassador to Pakistan Nawaf bin Said Al-Maliki said on Monday.

Related Stories

    No Related Stories Found
Widgets Magazine

Geo News reported that a large delegation comprising of the former's security team has already arrived in Pakistan on Monday to review security arrangements in Islamabad ahead of the Prince's visit.

"A team of doctors and a delegation of Saudi media persons who will cover Mohammed bin Salman's tour have also reached Islamabad," sources added.

The visit of the Saudi prince comes amid reports that Saudi Arabia will sign an agreement on oil refinery project, worth $10 billion, in the port city of Gwadar.

Gwadar is a port city located in the southwestern region of Balochistan in Pakistan, featuring the famous China-Pakistan Economic Corridor (CPEC) project in which Saudi Arabia is desperately seeking to become a major strategic stakeholder.

Apart from finalising the deal, the Saudi Prince is further expected to discuss bilateral relations between the two countries and issues focusing on the ongoing crisis in Yemen and the Afghan peace and reconciliation process.

Quoting sources, Saudi Arabia is also expected to a trade deal with Pakistan worth $14 billion, marking the biggest deal ever signed in the history of Pakistan.

During Pakistan's Prime Minister Imran Khan's visit to Riyadh, last year in October, Saudi Arabia had already pledged a USD six billion packages for Pakistan to get rid of its balance-of-payments crisis and to uplift its plunging economy.

Widgets Magazine

Sensex

Company Price Gain (%)
NTPC136.204.13
Power Grid Corpn181.503.80
O N G C135.102.27
Reliance Inds.1,243.501.47
Larsen & Toubro1,243.251.31

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine