Pakistan, Jan. 15 -- A Memorandum of Understanding (MoU) is likely to be signed between Pakistan and Saudi Arabia in February for the establishment of a mega oil city at the Gwadar deep seaport city, an ultimate destination of the China-Pakistan Economic Corridor (CPEC).
Prior to signing the agreement, a high-level Saudi delegation headed by Minister for Energy, Industry, and Minerals Khalid Abdul Aziz D Al Falih visited the port city on January 12 to inspect the site for a proposed oil refinery and review necessary arrangements for the MoU, official sources told APP.
They said Chief Executive Officer of Aramco Associates Company Al Buainain Ibrahim Qassim was also part of the delegation. The company will construct a petrochemical complex...