Saudi crown prince pledges $20bn investment for Pakistan

Saudi Crown Prince Mohammed bin Salman has pledged up to $20bn in investment in Pakistan as he begins a tour of South Asia and China against the backdrop of tensions between Pakistan and India. Prince Mohammed, who arrived in Pakistan late on Sunday earmarked an estimated $8bn to a large oil refinery and petrochemical project in Gwadar, south-west Pakistan, and targeted renewable energy and mining as other sectors of investment. The prime minister’s office in Pakistan did not disclose where the rest of the investments would be made, saying only that it would be in the oil refining and petrochemicals, renewable energy and mineral resources sectors…read more

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