Saudi Arabia to invest in oil refinery in Gwadar

Saudi Arabia to invest in oil refinery in Gwadar

News:

1. Saudi Arabia agrees to invest in new oil refinery in Pakistan’s port of Gwadar

Important Facts:

2. Saudi Arabia will invest in a new oil refinery in Pakistan’s Gwadar Port.
3. 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.