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Saudi Arabia to invest in oil refinery in Gwadar
News:
- Saudi Arabia agrees to invest in new oil refinery in Pakistan’s port of Gwadar
Important Facts:
- Saudi Arabia will invest in a new oil refinery in Pakistan’s Gwadar Port.
- About Gwadar port
- Gwadar is part of Pakistan’s mineral rich southwestern Baluchistan province.
- It is being developed as part of the $60 billion China-Pakistan Economic Corridor (CPEC)
- It is a part of China’s ambitious plan Belt and Road initiative (BRI) to build energy and transport links, connecting the western Chinese region of Xinjiang with the Arabian Sea via Pakistan.
