In the upcoming weeks, Pakistan’s state-owned firms and Barrick Gold are expected to formalize their participation in the Reko Diq project, according to Saudi Arabia’s Investment Minister Khalid Al-Falih.
The minister indicated interest in funding renewable energy projects and strengthening commercial ties with Pakistan in addition to the Reko Diq initiative.
Barrick owns 50% of Reko Diq, three federal state-controlled companies control 25%, Balochistan owns 15% fully funded, and the province owns 10% free carried. Reko Diq is jointly owned.
“We will be granting construction and material procurement contracts totaling around $1.8 trillion in the next years. Every year, the value of E&P and construction procurement will approach $200 billion, he said.
