Saudi JV to partner with Pakistan SOEs for Reko Diq completion

MG News | October 11, 2024 at 03:54 PM GMT+05:00

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October 11, 2024 (MLN): In a major strategic move, Manara Minerals, a newly formed joint venture between the Public Investment Fund (PIF) and the Saudi Arabian Mining Company (Ma’aden), will enter into a partnership with Pakistan's state-owned enterprises and Barrick Gold for the Reko Diq project completion in coming few weeks.

This was announced by Saudi Arabia’s Investment Minister Sheikh Khalid Bin Abdul Aziz Al Faleh, expressing Manara’s aim to start a number of investment initiatives in Pakistan’s mining industry.

It is worth noting that the investment minister of Saudi Arabia is on a three-day visit to Pakistan.

As of now, more than 25 agreements have been made across various sectors to boost economic cooperation between the two brotherly nations.

Sheikh Khalid Bin Abdul Aziz Al Faleh also acknowledged the strategic geographical significance of Pakistan and its potential in natural resources and renewable energy.

He expressed the hope that the signing of the agreements would mark a new era of economic cooperation between the two countries.

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