Saudi crown prince due in Pakistan on Feb 17

Mohammad bin Salman's visit was earlier scheduled for Feb 16

ISLAMABAD: Saudi Crown Prince Muhammad bin Salman, whose visit to the country was earlier scheduled for February 16, is arriving in Pakistan on February 17, it has been decided in principle.

Pakistan is likely to sign a number of investment deals, including the construction of a multi-billion-dollar oil refinery in the port city of Gwadar during the upcoming visit.

The Saudi crown prince will follow-up on agreements signed between the two countries during Prime Minister Imran Khan’s visit to KSA last year.

Saudi Arabia agreed to provide $6 billion lifeline to Pakistan following the second visit of the prime minister, as the agreement could not be reached during his September visit to the kingdom.

Prince Salman will participate in an international investment conference scheduled to be held at a five-star hotel in the capital.

According to sources, a 40-member Saudi delegation, and over 100 Saudi and Pakistani business leaders will attend the international event.

The forum will deliberate on energy, petro chemicals, housing, tourism in Punjab and Khyber-Pakhtunkhwa, as well as sign MoUs in this regard.

Negotiations will also be held to attract Saudi investment in Bahawalpur solar plants, and power plants in Haveli Bahadur Shah and Bhikki.

Meanwhile, agreements on exploration of minerals in the poverty-stricken Balochistan are also expected to be signed.

Earlier this month, Saudi Adviser for Energy and Mineral Resources Ahmad Al-Ghamdi had said representatives of a Saudi company, Aqua Power, would soon be visiting Pakistan to introduce renewable energy technologies — including solar and wind power.

While the Saudi crown prince will be the keynote speaker of the conference, Prime Minister Imran Khan will make the concluding address.

According to the sources, as per the itinerary of the crown prince’s visit, he would head to Malaysia, India and Beijing after completing his visit to the country.

Prince Salman’s schedule was amended multiple times, and the foreign ministries of both the countries are still in contact.

Insiders said that Pakistan has done groundwork to attract Saudi investors to the country, who will also be given various incentives this time.