Saudi Arabia’s Investment Minister Khalid Al-Falih has announced plans to finalize a partnership in the Reko Diq project in the coming weeks, involving Pakistan’s state-owned enterprises and Barrick Gold.

In addition to the Reko Diq venture, the minister expressed interest in investing in renewable energy projects and enhancing trade relations with Pakistan.

Reko Diq is jointly owned, with Barrick holding 50%, three federal state-owned enterprises controlling 25%, Balochistan owning 15% on a fully funded basis, and the province holding 10% on a free carried basis.

“We will be in the next few years, awarding construction and material procurement contracts reaching about $1.8 trillion. The value of construction and E&P procurement will reach about $200 billion annually year after year,” he said.

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