Saudi Investment Company to Complete Reko Diq Deal in Coming Weeks

Saudi Arabia’s Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh on Thursday announced that Manara Minerals, a joint venture of Saudi Arabian Mining Company (Ma’aden) and the Public Investment Fund (PIF), will ink a partnership deal for the Reko Diq project in the coming weeks. He said this while speaking at the Pak-Saudi Business Forum 2024. Apart from Reko Diq, he expressed interest in investing in renewable energy projects across the country. The minister praised Pakistan’s economic progress and said the Kingdom was committed to supporting the country’s stabilization efforts. The minister further said that 27 MoUs worth over $2 billion would be signed during his visit. Al Fateh acknowledged how Pakistan was an important location for sourcing materials. He said the Kingdom was planning to award construction contracts worth $1.8 trillion in the coming years and wanted to buy material for them from Pakistan.