Pakistani officials confirmed Thursday that Saudi Arabia will make heavy investments in the China Pakistan Economic Corridor (CPEC), a central pillar of China's international Belt and Road Initiative (BRI) of infrastructure projects
Pakistani officials confirmed Thursday that Saudi Arabia will make heavy investments in the China Pakistan Economic Corridor (CPEC), a central pillar of China's international Belt and Road Initiative (BRI) of infrastructure projects. “Saudi Arabia is the first country that we have invited to become a third partner in CPEC,' said Pakistani minister of information Fawad Chaudhry at a press conference in Islamabad. 'Saudi Arabia is expected to bring massive direct investments to the project.' Pakistani media pegged the value of the Saudi assistance package at $8 billion, and suggested that the scope of work would include a major petroleum complex at the port of Gwadar. A high-level diplomatic delegation from Riyadh will visit Pakistan in early October to discuss details.
