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GWADAR & CPEC NEWS UPDATE 18/01/2019

“Saudi Arabia to set up $10 billion oil refinery in Pakistan” – CNBC

The Saudi Minister of Energy, Industry and Mineral Resources Khalid Al Falih declared the kingdom’s intention to build a $10 billion oil refinery in Gwadar during his visit to the booming Pakistani port city last Saturday.

“Saudi Arabia wants to make Pakistan’s economic development stable through establishing an oil refinery and partnership with Pakistan in the China-Pakistan Economic Corridor,” the Saudi Energy minister told reporters in Gwadar. He said Crown Prince Mohammad bin Salman would visit Pakistan in February to sign the agreement and that Saudi Arabia would also invest in other sectors.

You can read the full article here.

“Qatar expresses interest in CPEC, investment in Gwadar” – The Express Tribune

Qatar has articulated interest in affiliating with the China-Pakistan Economic Corridor (CPEC) and investing in the thriving deep sea port of Gwadar, the gateway city to the $62 billion multilateral bouquet of infrastructure and energy projects.

Qatar intends to invest in storage facilities that will be set up at the port of Gwadar. Prime Minister Imran Khan is scheduled to embark on an official trip to Qatar on January 22 and plans to hold meetings with the Qatari leadership.

You can read the full article here.

“PM Imran directs to further expedite progress on various projects under CPEC” – Pakistan Today

Prime Minister Imran Khan has said today that the projects under the China-Pakistan Economic Corridor (CPEC) framework need to be accelerated as completed projects will create significant socio-economic opportunities for the people of Pakistan.

He said this while chairing a meeting in Islamabad during which the progress of CPEC came under review. The PM also decided to institute a CPEC Business Advisory Council and directed the Board of Investment to present detailed recommendations within four weeks to hasten the development of special economic zones.

You can read the full article here.

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