Tuesday 21 May 2019

Khalid bin Abdulaziz Al-Falih

Saudi Arabia signs $18bn energy, petchem MoUs with Pakistan

RIYADH, February 19, 2019

Saudi Arabia's Minister of Energy, Industry and Mineral Resources Engineer Khalid bin Abdulaziz Al-Falih has signed four memoranda of understanding (MoUs) worth SR68.2 billion ($18.18 billion) with Pakistan related to various energy and petrochemical projects.
The MoUs were signed during the just-concluded visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers and Minister of Defence to Pakistan, said a Saudi Press Agency report.
The first MoU in the energy and mining domain is worth SR22.5 billion; the second in the domain of renewable energy is worth SR7.5 billion; the third is related to the refining and petrochemicals sector worth SR37 billion, and the fourth is on funding an LNG project to secure Pakistan fuel supplies worth SR1.2 billion.


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