RIYADH: Saudi Arabia is set to inject a hefty $1 billion into the Reko Diq Copper-Gold Project nestled in the Chagai District of Balochistan, Pakistan, reported state-run Radio Pakistan on Sunday.
The investment is expected to take place in May, pending clearance of any hurdles by the Special Investment Facilitation Council (SIFC).
To ensure a seamless process for the investment by Saudi Arabia, Prime Minister Shehbaz Sharif will establish a dedicated committee within the Ministry of Finance. The committee will encompass all relevant stakeholders from Pakistan, ensuring a collaborative approach.
This milestone highlights the fruitful endeavors of SIFC in fostering a conducive environment for foreign investment in the country.
Saudi Arabia’s Capital to Pave Way for Further Foreign Investments
According to Radio Pakistan, such an injection of capital would not only pave the way for further foreign investments but would also align with SIFC’s mandate to spur economic growth.
Such an injection of capital would not only pave the way for further foreign investments but would also aligns with SIFC’s mandate to spur economic growth, according to Radio Pakistan.
Following the major investment, Pakistan and Saudi Arabia are likely to sign agreements aimed at strengthening investment within the mining sector.
