Saudi Arabia interested to invest in alternative energy sector in Pakistan

Published October 1, 2018
Saudi delegation assures full cooperation for the resolution of problems faced by the energy sector in Pakistan. —PID
Saudi delegation assures full cooperation for the resolution of problems faced by the energy sector in Pakistan. —PID

A high-level Saudi delegation, in a meeting with Energy Minister Omar Ayub in Islamabad, has shown interest to invest in the alternative energy sector in Pakistan, Radio Pakistan reported on Monday.

Led by Riyadh’s adviser on energy Ahmad Hamed Al-Ghamdi, the visiting Saudi delegation is expected to sign four memoranda of understanding (MoUs) for oil and mineral sector investment and trade cooperation that would ultimately extend the Chinese Belt and Road Initiative (BRI) from Gwadar to Africa through Oman and Riyadh.

Ayub informed the Saudi delegation about the power production and new hydropower projects in Pakistan, adding that there was a huge potential of investment in energy sector and assured that foreign investors will be facilitated at every level.

In reply, the Saudi delegation assured full cooperation for the resolution of problems faced by the energy sector in Pakistan.

Moreover, the Saudi delegation also met PM’s Adviser on Trade Abdul Razzak Daud and discussed ways to increase bilateral trade.

Dawn had earlier reported that the visiting delegation also includes members from the Saudi national oil firm, Aramco. Besides authorities of various ministries, state-run Pakistan State Oil (PSO) would be the only Pakistani firm to be part of a direct dialogue.

The MoUs are planned to be signed on the conclusion of a four-day visit of the Saudi delegation.

The move will enable Islamabad to secure supply of petroleum products and crude oil on deferred payments and Riyadh will be looking into setting up of an oil refinery at Gwadar, invest in a copper and gold project in Balochistan’s Reko Diq and LNG-based power projects in Punjab.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Killing fields
Updated 09 Jul, 2025

Killing fields

Israeli state seeks to ethnically cleanse the occupied territories of their Palestinian inhabitants, and forever obstruct the chances of a viable Palestinian state.
Crypto rush
09 Jul, 2025

Crypto rush

STEP by step, Pakistan is, at least on paper, moving closer to recognising, adopting and regulating cryptocurrencies...
Another plan
09 Jul, 2025

Another plan

FAILING to plan is planning to fail, as the old saying goes. This seems to have occurred in the case of Karachi, a...
Green tokenism
Updated 08 Jul, 2025

Green tokenism

Climate decisions must be based on facts, not politics — guided by independent science and open to public scrutiny.
Cotton decline
08 Jul, 2025

Cotton decline

PAKISTAN’S cotton economy is in a crisis. Production has fallen from a peak of 14m bales 10 years ago to 5.5m ...
Pet problems
08 Jul, 2025

Pet problems

PAKISTANIS’ obsession with exotic pets keeps ending in tragedy. Incidents like the recent lion attack in a Lahore...