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Saudi energy minister to visit Pak to sign MoU on setting up oil refinery

Press Trust of India  |  Islamabad 

Saudi to said on Tuesday that the Gulf Kingdom's will soon visit to sign an agreement for setting up an refinery in the country.

revealed this during a courtesy call on Dr. Arif Alvi, the House said in a statement.

"Saudi for will soon visit to sign MoU on establishing an refinery in Pakistan, apart from finalising other major projects in which has shown interest," Malkiy informed the

The president hailed the Saudi move and underlined that the close, cordial and brotherly relations between and were important.

He also highlighted different areas of economy where Saudi investors can invest, and stressed that "there is a need for exchange of more business delegations between the two countries".

Alvi said that the Saudi could play a critical role in increasing the bilateral trade.

The Saudi also briefed the president on two recent visits of to and said that they have been very successful, resulting in enhanced and multi-faceted bilateral economic cooperation.

Saudi Arabia last month announced to provide cash-strapped Pakistan USD 3 billion in balance of payment support and additionally give worth USD 3 billion on deferred payment after Khan met Saudi in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 19:35 IST