Saudi Aramco has reportedly expressed interest to invest in Pakistan, in particular the South Asian country’s refineries and the power sector, according to a local media report.
A delegation of Aramco, led by its vice chairman Abdul Aziz M. Al-Judaimi, met Pakistan’s Finance Minister Mohammad Ishaq Dar in capital Islamabad last week to explore investment opportunities in the country’s oil & gas and petrochemical sectors.
“Pakistan is not only a large market, it also provides access to other markets in the region, therefore, Aramco would be looking at making investment in refineries and power stations,” Al-Judaimi said.
Al-Judaimi added that an Aramco technical team would visit Pakistan soon to seek further details about various potential projects.
He said revealed that Aramco was directed by Prince Muhammad Bin Salman Al Saud, the Deputy Crown Prince and Defence Minister of Saudi Arabia to visit Pakistan.
Dar, for his part, welcomed the Aramco delegation and hoped that the visit will lead to further strengthening of economic relations between the two countries.
He said that the country’s government would be willing to provide facilitation to the technical teams of Aramco.
The minister referred to the keenness of the Saudi leadership in developing Pakistan and recalled his visit to Saudi Arabia during which many Saudi companies had indicated their interest in the investment opportunities in Pakistan.
He stated that the stabilisation of macroeconomic situation and improvement in security conditions had led to a renewed interest in Pakistan by foreign investors and the government will ensure that such investors are provided a safe and secure business environment to carry out their operations.
