Muscat: Saudi Arabia has announced that it will invest $10 billion USD to construct an oil refinery in Gwadar.
The investment was confirmed by Khalid Al Falih, the Kingdom's Minister of Energy, Industry and Natural Resources.
During a visit to the port, Al Falih said, "Saudi Aramco is establishing an oil refinery in Gwadar. $10 billion USD will be invested."
The minister was welcomed to Gwadar by Pakistan's Federal Minister for Maritime Affairs, Syed Ali Haider Zaidi.