Saudi Arabia commits $1 billion investment in Reko Diq project

Saudi Arabia is set to inject a hefty $1 billion into the Reko Diq Copper-Gold Project nestled in the scenic Chagai District of Balochistan province. The investment is anticipated to take place next month, pending the clearance of any hurdles by the Special Investment Facilitation Council (SIFC).

To ensure a seamless process for Saudi Arabia’s investment, the Prime Minister will establish a dedicated committee within the Ministry of Finance. This committee will encompass all relevant stakeholders from Pakistan, ensuring a collaborative approach. This milestone underscores the fruitful endeavors of the Special Investment Facilitation Council (SIFC) in fostering a conducive environment for foreign investment within the nation.

Such an injection of capital is poised to not only pave the way for further foreign investments but also aligns with SIFC’s mandate to spur economic growth. Following this significant investment, Pakistan and Saudi Arabia are expected to ink agreements aimed at strengthening investment within the mining sector.

Courtesy: The Nation