{"id":7388,"date":"2024-08-29T05:25:49","date_gmt":"2024-08-29T05:25:49","guid":{"rendered":"https:\/\/gsrra.com\/?p=7388"},"modified":"2024-08-29T05:25:51","modified_gmt":"2024-08-29T05:25:51","slug":"saudi-arabia-offers-to-buy-15-stake-in-reko-diq","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=7388","title":{"rendered":"Saudi Arabia Offers to Buy 15% Stake in Reko Diq"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/propakistani.pk\/wp-content\/uploads\/2019\/10\/Reko-diq.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p>Saudi Arabia has offered to buy a 15 percent stake in Pakistan\u2019s Reko Diq mining project, alongside a substantial grant for infrastructure development around the mining area.<\/p>\n\n\n\n<p>Saudi Arabia\u2019s Public Investment Fund (PIF) through Manara Minerals proposed to acquire 15 percent of the federal government\u2019s 25 percent share in the project. Pakistan will form a negotiation committee to review the offer and recommend a final price to the federal cabinet, reported Express Tribune.<\/p>\n\n\n\n<p><a href=\"https:\/\/propakistani.pk\/2024\/08\/20\/scottish-company-secures-53-million-deal-to-supply-mining-equipment-to-reko-diq\/\" target=\"_blank\" rel=\"noreferrer noopener\">Scottish Company Secures \u00a353 Million Deal to Supply Mining Equipment to Reko Diq<\/a><\/p>\n\n\n\n<p>The Saudi proposal also includes a grant for constructing the Mashkhel-Panjoor road. The Ministry of Economic Affairs is in discussions with the Saudi Fund for Development to finalize this road project.<\/p>\n\n\n\n<p>Pakistan aims to maximize the offer price by encouraging Saudi Arabia to pay upfront to local companies holding shares in the project.<\/p>\n\n\n\n<p>The federal government is also negotiating additional financial support from Saudi Arabia, including a $5 billion investment in mining and agriculture by June 2025.<\/p>\n\n\n\n<p>As part of the Reko Diq project\u2019s broader financing plan, the US Export-Import Bank has expressed interest in providing up to $2 billion in loans. The project\u2019s total cost is estimated at $6-6.5 billion.<\/p>\n\n\n\n<p>Reference Link:- <a href=\"https:\/\/propakistani.pk\/2024\/08\/27\/saudi-arabia-offers-to-buy-15-stake-in-reko-diq\/\" target=\"_blank\" rel=\"noopener\">https:\/\/propakistani.pk\/2024\/08\/27\/saudi-arabia-offers-to-buy-15-stake-in-reko-diq\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia has offered to buy a 15 percent stake in Pakistan\u2019s Reko Diq mining project, alongside a substantial grant for infrastructure development around the mining area. Saudi Arabia\u2019s Public Investment Fund (PIF) through Manara Minerals proposed to acquire 15 percent of the federal government\u2019s 25 percent share in the project. Pakistan will form a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[3049,132,105,3048,36,2978,376,3047,3046],"class_list":["post-7388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-developing-mining-sector","tag-economy","tag-geopolitics-2","tag-gold-and-cooper-minies","tag-pakistan","tag-reko-diq","tag-saudi-arabia","tag-saudi-shares-in-reko-diq","tag-saudi-stake-in-reko-diq"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7388"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7388\/revisions"}],"predecessor-version":[{"id":7390,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7388\/revisions\/7390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/7389"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}