Pakistan and Saudi Arabia have signed 27 memorandums of understanding (MoUs) during a recent visit by a Saudi investment delegation, committing to investments exceeding $2.2 billion. These agreements cover various critical sectors, including energy, agriculture, IT, health, education, and mining.
One of the significant projects outlined is the White Oil Pipeline, expected to enhance petroleum delivery systems in Pakistan by its completion in 2025. Additionally, a 500MW hybrid power project, combining solar and wind energy, is set to commence in the first half of 2025.
In agriculture, Saudi Arabia plans to invest $70 million by 2025 to bolster Pakistan’s agricultural output and exports. The IT and digital transformation sectors will also see phased project implementations starting in 2025, which include an e-education initiative and a cybersecurity plan aimed at safeguarding digital infrastructure, set to launch by late 2024.
The industrial sector is poised for growth, with plans for textile and surgical equipment factories in both countries by 2025. Furthermore, Saudi investments in Pakistan’s mining sector will target copper, gold, and rare metal deposits.
In the electronics industry, Saudi Arabia aims to establish semiconductor manufacturing facilities, with initial phases slated for completion by 2026.
The MoUs also encompass several educational initiatives, set to launch in 2025, focusing on technical and vocational training to develop skilled manpower.
The transition from MoUs to actual project implementation will involve multiple stages, including feasibility studies. Once these studies are approved, financing agreements will be finalized, followed by the signing of final contracts, paving the way for project execution.
