Memorandums of understanding and agreement in the fields of energy and mining Power and Energy

Minister of Energy, Industry and Mineral Resources Eng. Khalid bin Abdulaziz Al-Falih signed memorandums of understanding with the Pakistani side as part of the visit of Crown Prince Mohammed bin Salman to Pakistan. Four memoranda of understanding and one agreement were signed in the fields of energy and mining with the Pakistani side, which comes within the framework of the Ministry of Energy, Industry and Mineral Resources, including a 22.5 billion riyals memorandum of understanding to invest in the mining sector. Mining and investment in mining projects in Pakistan, to Saudi investors, led by Ma'aden, and a memorandum of understanding for investment in Qat Of renewable energy worth SR7.5 billion to facilitate investment in renewable energy projects by a number of Saudi investors, led by the World Water and Power Projects Company (Aqua Power).

Enhancing investment opportunities

A memorandum of understanding was signed with the Pakistani side to invest 37.5 billion riyals in refining and petrochemicals to boost investment opportunities in the Pakistani energy and petrochemical markets by benefiting from the Saudi Arabian crude oil. Renewable annually for a period of 3 years, with a view to securing fuel supplies to Pakistan, including crude oil and petroleum products To add to the natural gas (LNG) LNG through the Saudi Fund for Development, it was also signed a memorandum of understanding framework for the financing of projects for the production of electric power in Pakistan, an amount estimated at about one billion and two hundred million riyals through the Saudi Development Fund.