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.
