Saudi Arabia invests $ 10 billion in a refinery in Pakistan

The prime minister of pakistan can blow a little. Saudi Arabia is ready to invest $ 10 billion in an oil refinery in Pakistan. The contract will be signed in Fe

Saudi Arabia invests $ 10 billion in a refinery in Pakistan

The prime minister of pakistan can blow a little. Saudi Arabia is ready to invest $ 10 billion in an oil refinery in Pakistan. The contract will be signed in February by crown prince Mohammed bin Salman, said on Saturday the saudi minister of energy Khalid al-Falih. The refinery will be located in the deep water port of Gwadar, located in the North of Karachi and developed today thanks to the dollars distributed by China within the framework of the New Silk roads.

Pakistan has already received last year $ 6 billion of Riyadh, in particular, to finance its oil imports. And the manna is not dried up. "The kingdom of saudi arabia wants to stabilize the economy of pakistan by creating partnerships in the economic Corridor China-Pakistan", has detailed Khalid al-Falih. This "Corridor" represents a broad set of infrastructure projects planned in the whole of Pakistan. They are in the mega-program New Silk road " implemented by Beijing to assure its supremacy over the maritime routes and rail between China and Europe.

60 billion promised by China,

The Chinese distribute in the form of lending huge sums to the countries located on this axis. Beijing has promised more than $ 60 billion alone for the Economic Corridor China-Pakistan. The latter provides for the construction of power plants, highways, rail lines, new or upgraded, and ports with greater capacity. All in order to make Pakistan an important terrestrial circuit linking western China to the world.

For its part, the Pakistan , led since August by the former cricket champion Imran Khan to become prime minister by promising a welfare State islamic", is trying to attract foreign financing. He needs to address the soaring current account deficit, due largely to the increase in oil prices. Imran Khan is in discussions with the international monetary Fund to obtain yet another loan. It has, in the meantime, obtained at the beginning of January a loan of $ 3 billion from the United Arab Emirates.

Date Of Update: 14 Ocak 2019, 00:00

Kathleen Lees

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