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Saudi minister says crown prince will sign oil refinery deal
GWADAR: Saudi Minister for Petroleum and Energy Khalid Bin Abdul Aziz said on Saturday that his country’s crown prince would visit Pakistan in February to sign an agreement with Pakistan on setting up an oil refinery in Gwadar at a cost of $10 billion.
The Saudi minister said this after arriving here along with a delegation to inspect the site for the proposed oil refinery in the port city, the ultimate destination of the China-Pakistan Economic Corridor (CPEC). The delegation included Chief Executive Officer of Aramco Associated Company Al Buainain Ibrahim Qassim.
Federal Minister for Petroleum Ghulam Sarwar Khan, Federal Minister for Marine Affairs Ali Zaidi and Balochistan Information Minister Mir Zahoor Ahmed Buledi received the Saudi delegation at Gwadar airport.
Delegation from kingdom visits site for proposed facility in Gwadar
Later the Saudi delegation attended a meeting in which the oil refinery project and other issues were discussed.
The Saudi minister said that his country wanted to contribute to Pakistan’s economic development through establishing an oil refinery and partnership in the CPEC. He said that Saudi Arabia was also interested in investing in other sectors.
Referring to the proposed oil refinery, Mr Abdul Aziz said that it would prove to be a landmark development for the entire region as a centre point for changes in purchase, import and export of oil.
He said that the Saudi government would complete installation of the oil refinery in minimum time.
The Saudi minister said that Pakistan and his country enjoyed cordial economic, social and deep-rooted friendly relations since a long time. Saudi Arabia had always provided financial and economic help to Pakistan and would continue to do so in future.
He said that he was visiting Gwadar on the instruction of the Saudi king.
Ghulam Sarwar Khan welcomed the Saudi delegation and appreciated the efforts Saudi Arabia was making to contribute to economic development of Pakistan. He termed the Saudi delegation’s visit to Gwadar a significant event.
The petroleum minister said that the federal cabinet had already approved the Saudi government’s plan for establishing an oil refinery in Gwadar. With the setting up of the oil refinery, Saudi Arab would become an important partner in the CPEC, he added.
He said that the project would not only prove a milestone in the development of Pakistan but also write a new history of prosperity and economic development in the entire region.
The minister for maritime affairs suggested that Saudi Arabia should also invest in the agriculture sector.
Earlier, Gwadar Port Authority Chairman Dostain Jamaldini, Gwadar Development Authority Chairman Dr Sajjad Baloch and China Overseas Port Holding Company Chairman Zhang Baozong briefed the Saudi delegation about the CPEC and the development projects launched in Gwadar.
Additional Secretary of Petroleum Tanvir Qureshi, Balochistan Minister for Revenue Mir Saleem Ahmed Khosa, Provincial Energy Secretary Mir Pasand Khan Buledi, MPA Mobin Khan Khilji and officials concerned also attended the meeting.
GWADAR: A delegation of Saudi Arabia, led by Minister for Energy, Industry and Mineral Resources Khalid Abdul Aziz D. Al Falih, arrived here on Saturday to inspect the site for the proposed oil refinery at the deep seaport city, the ultimate destination of the China Pakistan Economic Corridor.
Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan, Federal Minister for Marine Affairs and Balochistan Information Minister received the delegation, which included Chief Executive Officer of Aramco Associated Company Al Buainain Ibrahim Qassim.
Mr Khan said Pakistan and Saudi Arabia enjoyed cordial relations, a press release said.
Describing the proposed oil refinery as a state-of-the-art facility, he said it would the biggest investment of the Saudi government in Pakistan, for which a memorandum of understanding was expected to be signed next month.
Published in Dawn, January 13th, 2019
Comments (18) Closed
This shows immaturity of information minister. Why you have to discuss who will sign and who will not. Agreement is signed between two countries not individuals. Desperate to inform public about each and every development.
Excellent news!
Gwadar port should be used in a manner that attract investor by giving them tax incentives. Definitely this refinery project is good for country economy and investment opportunity in that region.
The two urgent matters our government should propose to the Chinese are (1) to install a sewage treatment plant now in the beginning so that we do not pollute our sea water as we did in Karachi (2) construct underground metro tunnels in the city of Gwader now before it gets impossible due to high rises and escalation of other constructions work.
This is exactly what Pakistan and gwadar needs. Thank you Saudi Arabia !
This means some understanding which people are not told about, just like CPEC.
@shahid, Fantastic comment. I hope its herad and implemented.
Thanks to the generosity of the brotherly country of Saudi Arabia, this is a great news for the fertile land and brave 225 million people of the Islamic Republic of Pakistan.
The details of where the processed oil is destined for has not been specifically defined, is this processed oil going to be for Pakistani consumption, for export to China, for export from Gwadar by sea to other destinations?
More critical details are required.
Good job PTI, maintaining transparency right from the beginning.
Awaiting details of how the crude oil will be imported and processed oil to be exported.
Traitors and enemies of Pakistan are burning
Preference of jobs must go to Baloch people first, when the oil refinery is built, as simple as that.
It makes sense for the Muslim Opec countries to invest in Muslim countries and reduce the influence of the West and China.
Translation not so soon.
Like most profitable ventures, if this is any, the big chunk will stay in few hands and general public will never see the benefit of a new port and development around it. Sui is just one example.
@shahid, very true and desperately needed work
Good news for the region.Your report does not say how many bbl per day refinery capacity?