Saudi Arabia to invest in oil refinery in Gwadar

Saudi Arabia to invest in oil refinery in Gwadar

News:

  1. Saudi Arabia agrees to invest in new oil refinery in Pakistan’s port of Gwadar

Important Facts:

  1. Saudi Arabia will invest in a new oil refinery in Pakistan’s Gwadar Port.
  2. About Gwadar port
  • Gwadar is part of Pakistan’s mineral rich southwestern Baluchistan province.
  • It is being developed as part of the $60 billion China-Pakistan Economic Corridor (CPEC)
  • It is a part of China’s ambitious plan Belt and Road initiative (BRI) to build energy and transport links, connecting the western Chinese region of Xinjiang with the Arabian Sea via Pakistan.
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