Saudi Arabia will invest $4 billion in solar projects in Balochistan

After $5 billion Khalifa Point oil refinery, Saudi Arabia is also likely to invest $4 billion in solar projects in Balochistan.

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  • Minister for Power and Petroleum Omar Ayub Khan announced the news regarding solar projects in Balochistan.
  • He said the $5 billion Khalifa Point oil refinery with a potential of producing of 250,000 barrels oil per day would hit the ground in collaboration with Saudi Arabia as well.
  • he added that the government was also negotiating with Saudi Arabia to attract investment worth around $4 billion in solar energy in Balochistan.

Minister for Power and Petroleum Omar Ayub Khan announced that by the end of the current fiscal year, $5 billion Khalifa Point oil refinery with the potential of producing of 250,000 barrels oil per day would hit the ground. It is being built in collaboration with the Kingdom of Saudi Arabia.

He made the announcement speaking at the launching ceremony of Economic Survey (2018-19). He informed the government was also negotiating with Saudi Arabia to attract investment worth around $4 billion in solar energy in Balochistan. It is to ensure the provision of an economical and reliable energy source to the masses.

Government plans to reduce the burden of expensive and imported energy:

Omar Ayub Khan said that the government had a plan to reduce the burden of expensive and imported energy. He said the country’s power sector had the investment potential of over $80 billion huge investment in the power sector. He added that it would not only help the country reducing import bill but also reduce unemployment in the country.


Also See: Saudi Arabia Levels Allegations Against Iran Of Attacking Its Oil Supplies


The investment in the solar projects in Balochistan will help create employment opportunities as well as will ease the people. Omer added that the government had a plan to reduce the burden of expensive and imported energy sources by increasing the share of renewable energy sources like solar and wind energy.

“By 2025, the country will be producing 10,000 MW renewable energy while this share would further be increased to 18,000 MW by 2030,” he added.

He said that the curse of circular debt also increased due to the production of expensive imported energy sources. Omar Ayub informed that the government was also going to auction 40 more blocks by end of the current year for exploring the oil and gas reserves in the country.

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