8 investment agreements expected to be signed in Islamabad $10bn refinery, petrochemicals complex in Gwadar to be announced Saudi Gazette report Islamabad — Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, kick-started a high-profile three-nation tour with his first stop in Pakistan. The tour will also take him to India and China. A formation of JF-17 thunder jets and F-16 fighter jets escorted the plane of the Crown Prince after its entry into the Pakistani airspace. On arrival, the Crown Prince was given a 21-gun salute. The twin cities of Islamabad and Rawalpindi have been decked out in images of the Saudi royal family and banners welcoming the Crown Prince. The Crown Prince's trip is being treated by Islamabad as the biggest state visit since Chinese President Xi Jinping in 2015. The visit marks a deepening in ties between allies. Pakistani officials have already flagged up that Saudi Arabia will announce eight investment agreements, including a $10 billion refinery and petrochemicals complex in the coastal city of Gwadar. In an interview with Okaz/Saudi Gazette Pakistan Prime Minister Imran Khan said that multiple contracts are expected to be signed between Pakistan and Saudi Arabia during the visit of Crown Prince Muhammad Bin Salman. The main highlight of the visit will be the signing of an MoU in respect of the oil refinery, which is Saudi Arabia's largest investment in Pakistan's history, he said. After Pakistan, MBS will travel to India, where he will meet Prime Minister Narendra Modi and Petroleum Minister Dharmendra Pradhan. He is expected to finish the trip with a visit to China on Thursday and Friday. The Crown Prince's trip includes an important economic component. China is the largest buyer of Saudi crude, and Saudi Arabia's other largest clients are all Asian: India, Japan, South Korea.
