Saudi Arabia Will Invest $4 Billion In Solar Projects In Balochistan

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Saudi Arabia Will Invest $4 Billion In Solar Projects In Balochistan
After $5 billion Khalifa Point oil refinery, Saudi Arabia is also likely to invest $4 billion in solar projects in Balochistan.
By Mishal Ali Last updated Jun 12, 2019
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  • Minister for Power and Petroleum Omar Ayub Khan announced the news regarding solar projects in Balochistan.
  • He said the $5 billion Khalifa Point oil refinery with a potential of producing of 250,000 barrels oil per day would hit the ground in collaboration with Saudi Arabia as well.
  • he added that the government was also negotiating with Saudi Arabia to attract investment worth around $4 billion in solar energy in Balochistan.

Minister for Power and Petroleum Omar Ayub Khan announced that by the end of the current fiscal year, $5 billion Khalifa Point oil refinery with the potential of producing of 250,000 barrels oil per day would hit the ground. It is being built in collaboration with the Kingdom of Saudi Arabia.

He made the announcement speaking at the launching ceremony of Economic Survey (2018-19). He informed the government was also negotiating with Saudi Arabia to attract investment worth around $4 billion in solar energy in Balochistan. It is to ensure the provision of an economical and reliable energy source to the masses.

Government plans to reduce the burden of expensive and imported energy:
Omar Ayub Khan said that the government had a plan to reduce the burden of expensive and imported energy. He said the country’s power sector had the investment potential of over $80 billion huge investment in the power sector. He added that it would not only help the country reducing import bill but also reduce unemployment in the country.

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