Saudi Arabia proposed a multi-billion dollar oil refinery in the Pakistani port city of Gwadar during high-level diplomatic talks between a Saudi delegation and Pakistani authorities, Arab News reported.
“The Saudi delegation has expressed interest in an oil refinery, the power sector, setting up a desalination plant, wind projects, and solar power projects,” Pakistan’s Commerce Minister Abdul Razak Dawood said.
The Saudi delegation is expected to sign a memorandum of understanding (MoU) on projects of mutual interest on October 4, at the end of its five-day visit to Pakistan.
“The delegation is going to visit Gwadar on Tuesday to review the setting up of the oil refinery,” Dawood added.
Talks were also held regarding a Saudi acquisition of stakes in liquefied natural gas power plants in the Punjab province.
During the visit, Pakistan formally sought the purchase of crude oil from Saudi Arabia on a deferred payment of at least 90 days.