(MENAFN) Saudi Arabia and Pakistan have decided to establish a new Saudi Aramco oil refinery in Pakistan's port city of Gwadar.
Pakistan is predictable to contract a number of investment agreements in February 2019, containing the building deal of the multibillion-dollar oil refinery, Arab News reported, citing Pakistan's information minister Fawad Chaudhry.
The oil refinery venture will be the largest Saudi investment in Pakistan.
"We actually need two oil refineries in Pakistan to meet demand. We have already met with Saudi investors who have [recently visited] Pakistan," Pakistan's prime minister Imran Khan stated three months ago.