Pakistan could be seeing investments worth billions of dollars, the Wall Street Journal reported on Thursday citing Pakistani and Gulf State officials.
According to the people familiar with the matter, Saudi Arabia is eyeing an investment in a giant copper mine, which is being developed by Canadian Barrick Gold Corp. at a cost of $7 billion. In addition, the Saudis are also having advanced discussions to set up their own oil refinery in Pakistan, which could cost up to $14 billion.
"Pakistan is strategically located, at the junction of the engines of growth in Asia, between south Asia, central Asia, China and the Middle East. There is a very big opportunity for investors to come here, as long as we can give them assurance that there will be continuity of policy for their investment," Ahsan Iqbal, Pakistan's outgoing planning minister and head of the executive committee of the Special Investment Facilitation Council, commented.
