Saudi Arabia keen to invest in CPEC

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Saudi ambassador to Pakistan Nawaf Said Ahmad Al-Malkiy has said that the kingdom is looking forward to investing in the China Pakistan Economic Corridor (CPEC) and Gwadar port projects.

During an interview, according to Radio Pakistan, he said CPEC was a huge project and would create many investment opportunities.

Pakistan and Saudi Arabia are cooperating in military, economic and other sectors and their cooperation will increase further in the future, the Saudi ambassador continued.

The envoy also stressed that the Muslim Ummah should become united so as to overcome the challenges being faced by it.

The $46-billion China Pakistan Economic Corridor (CPEC) project focuses on road building and energy infrastructure to end chronic power shortages in Pakistan and to link China’s landlocked north-west with the deep-water port Gwadar on the Arabian Sea.

In 2016, Iran and Saudi Arabia wished to join the CPEC framework as a good indication. Pakistan welcomed their participation.

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