ISLAMABAD: Saudi Arabia has offered a 15 percent investment in the Reko Diq copper and gold mine project in Pakistan’s southwestern Balochistan province, according to Pakistani state-owned media on Saturday.
Reko Diq is considered one of the world’s largest undeveloped copper and gold resources, primarily operated by Canada’s Barrick Gold, which holds a 50 percent stake in it.
The remaining stake is owned by three federal state-owned enterprises and the Balochistan provincial government, though Pakistan has also invited Saudi Arabia to invest in the project.
“Saudi Arabia has offered fifteen percent investment in Reko Diq Mining project,” the Radio Pakistan said in one of its reports. “The Kingdom has also offered grants to build road infrastructure around the Reko Diq project.”
“Special Investment Facilitation Council (SIFC) has approved the structure of the offer but the final decision has been left to the Cabinet Committee on Intergovernmental Transactions,” it added.
Pakistan set up the SIFC, a civil-military hybrid body, last year in June with the sole purpose of reviving the frail national economy, dented by low foreign exchange reserves, currency depreciation and record inflation.
Barrick Gold’s top official, Mark Bristow, has also acknowledged the Saudi interest in the project, saying his company would not dilute its equity.
However, he added that Barrick Gold would not oppose any decision by the Pakistan government to sell part of its stake to Saudia Arabia.
Radio Pakistan said the government in Islamabad expects up to $5 billion investment in the mining and agriculture sector by June next year.
Saudi Arabia offers 15% investment in Pakistan’s Reko Diq mining venture
https://arab.news/jmsyc
Saudi Arabia offers 15% investment in Pakistan’s Reko Diq mining venture
- Reko Diq in Pakistan’s southwest is considered one of the world’s largest undeveloped copper and gold resources
- State-owned media says Pakistan expects up to $5 billion of Saudi investment in mining, agriculture by June 2025
Pakistan plans $80 million seafood zone at Karachi harbor to target Gulf markets
- Plan aims to move exports away from raw seafood toward higher-value processed products
- Project will be developed under public-private partnership or build-operate-transfer model
KARACHI: Pakistan plans to develop a seafood processing and export zone at Karachi’s Qur’angi Fisheries Harbor that could cost up to $80 million to boost value-added exports and position the country as a supplier to the Gulf and other regional markets, Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said on Saturday.
The proposed 100-acre project aims to shift Pakistan away from exporting raw seafood by building modern processing, cold-chain and packaging infrastructure linked to international buyers, as Islamabad looks to expand its blue economy and deepen maritime trade ties with the region.
In a statement, Chaudhry said the zone would be developed, financed and operated under a public-private partnership or build-operate-transfer (BOT) model, with private investors running the facilities and the Qur’angi Fisheries Harbor Authority retaining regulatory oversight.
“The estimated project cost ranges between $60 million and $80 million, based on regional benchmarks from countries such as Vietnam, China and Ecuador, which have developed similar seafood parks,” Chaudhry said.
He said the facility would include 20 to 25 medium- to large-scale seafood processing units for fish, shrimp and cephalopods, alongside large-scale cold storage, blast freezing, packaging facilities, logistics and export terminals, and a wastewater treatment plant to ensure environmentally compliant operations.
“Packaging and labeling units would operate under international food safety and quality standards, including HACCP and ISO certifications, offering vacuum packing, modified atmosphere packaging and retail-ready solutions,” he said, referring to Hazard Analysis and Critical Control Points, a preventive food safety system.
ISO certification verifies that a company’s management systems meet international standards.
The minister said the zone would be used exclusively for commercial seafood processing, packaging, cold storage and export-oriented activities, with multi-temperature storage ranging from minus 18 to minus 40 degrees Celsius and ice plants capable of producing 50 to 100 tons daily.
Chaudhry said the preferred investment structure is a BOT concession under which the private partner would finance, develop and operate the project for an expected 20-year tenure, with ownership reverting to the harbor authority at the end of the concession period.
He added that the estimated internal rate of return was projected between 13 percent and 17 percent, with revenue generated through lease rentals, processing fees, logistics services and export-linked earnings.
“The project will position Pakistan as a key maritime trade and seafood export hub serving Gulf, East African and Asian markets,” Chaudhry said.
