Pakistan, Saudi to sign MoU for petrochemical refinery during MbS visit: FO

ISLAMABAD: Foreign Office spokesperson Dr Mohammad Faisal on Saturday said a memorandum of understanding (MoU) on the establishment of a petrochemical refinery will be signed during Saudi Crown Prince Mohammad bin Salman's visit to Pakistan.

"During the visit of HRH the Saudi crown prince a MoU on establishment of an integrated complex, petrochemical refinery to be signed," the FO spokesperson tweeted.

Islamabad is hoping to sign a raft of investment deals and other agreements during Mohammad bin Salman's two-day visit, which begins Sunday and will include talks with Prime Minister Imran Khan and Army chief General Qamar Javed Bajwa.

Saudi Arabia is reportedly preparing to sign a record investment package with Pakistan, including a $10-billion refinery and oil complex for the strategic Gwadar Port on the Arabian Sea.

Earlier, the Foreign Office spokesperson said Islamabad is seeking to sign a number of other deals, including one "combating organised crime".

The crown prince, also referred to as MbS, had originally been due to arrive on Saturday but the Pakistan foreign ministry released a statement late Friday saying the visit had been delayed by one day, with the programme unchanged.