Pakistan, Saudi Arabia explore downstream projects
A delegation from the Karachi Chamber of Commerce and Industry (KCCI) met with a Saudi business delegation, headed by Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pakistan Joint Business Council.
The meeting exchanged views on strengthening bilateral trade and investment ties, with a particular focus on downstream industrial projects, petrochemicals and sector-specific value-addition opportunities in Pakistan.
KCCI representatives stressed Pakistan's urgent need for strategic downstream petrochemical capacity, including the establishment of a naphtha cracker facility, to reduce import dependence on polymers and petrochemical feedstock, create high-value jobs and stimulate local industries across textiles, plastics, packaging and chemicals.
KCCI noted that the naphtha cracker facility would be transformational for Pakistan's manufacturing landscape and called on Saudi investors and the Joint Business Council to evaluate partnership models and financing structures for such a project.
Prince Mansour and the Saudi delegation expressed interest in exploring a broad pipeline of opportunities across energy, industrialisation, agriculture, textiles, information technology and academia-industry collaboration, underscoring Saudi Arabia's continuing focus on deepening economic engagement with Pakistan.
Speakers on both sides discussed the scale and timelines that such downstream projects entail. Public reporting and industry studies put the capital requirement for naphtha cracker in billions of dollars.
The KCCI delegation, led by Chairman Businessmen Group Zubair Motiwala and Vice Chairmen Anjum Nisar, Jawed Bilwani and Mian Abrar Ahmed, emphasised the importance of firm feasibility studies, feedstock security, port and logistics planning, and clear regulatory and fiscal incentives to attract anchor investors and project finance.
Beyond petrochemicals, the KCCI delegation highlighted opportunities for value-added textile investments (backward and forward linkages), agribusiness and food processing projects that can raise farmer incomes and increase exports, and for IT and academic partnerships to build human capital to support new industrial activity.
The two sides also explored joint ventures, technology transfer arrangements, and cooperation between Pakistani universities and Saudi industrial partners to foster applied research and skilled workforce development.