Friday, April 19, 2024

Saudi Arabia Eyes $1 Billion Investment in Reko Diq Project

Saudi Arabia expresses interest in injecting $1 billion into the Reko Diq project, known for its vast copper and gold reserves in Balochistan. Pakistan considers selling shares of OGDCL and PPL to Saudi Arabia, with negotiations set to commence soon.

Prime Minister Shehbaz Sharif will establish a committee to oversee Saudi investment in Reko Diq, comprising officials from relevant ministries. The committee will visit Saudi Arabia for final negotiations, aiming to sign an inter-governmental agreement for the investment.

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Reko Diq, a significant mining project, holds substantial potential, with Pakistan and Barrick Gold Corporation signing an $8 billion agreement in December to restart the project after a hiatus since 2011.

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Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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