A high-level Saudi delegation has arrived in Pakistan on Sunday to sign five important Memorandums of Understanding (MoUs) with the government.

The Saudi delegation includes petroleum ministers as well as the Saudi finance minister and the energy minister, according to an announcement by Information Minister Fawad Chaudhry.

During its six-day visit to Pakistan, the Saudi delegation will also sign a MoU to make investments in the Balochistan Reko Diq gold and copper mines.

The prospect of setting up oil refineries in Gwadar is likely to be discussed by the delegation. The Saudi officials are expected to sign an agreement to sell petroleum products to Pakistan on deferred payments.

Further, agreements to privatise two Liquefied Natural Gas (LNG) power plants and sale of phosphate-containing fertilisers to Pakistan are also expected to be signed by the delegation.

Earlier this week, Information Minister Fawad Chaudhry said pacts with the KSA will be transparent and a huge investment will be made by the country.

Pakistan and Saudi Arabia signed “three grant agreements” to bring major investment in the country after the former invited the country to become the third partner in the China-Pakistan Economic Corridor (CPEC) plan, Fawad said.