Saudi Arabia to join China Pakistan Economic Corridor project

Saudi Arabia to join China Pakistan Economic Corridor project

Suggesting a major change in global oil flows, Saudi Arabia is expected to sign up to add billions of dollars of petrochemical infrastructure to the Chinese-built port of Gwadar in Pakistan.

Saudi Arabia is committing up to $8bn in the China Pakistan Economic Corridor (CPEC), a transit route involving pipelines for China to take Middle Eastern oil from the Indian Ocean rather than going via the much longer route through the Malacca Strait.

“Saudi Arabia is the first country that we have invited to become a third partner in CPEC,” said Pakistani minister of information Fawad Chaudhry at a press conference in Islamabad. “Saudi Arabia is expected to bring massive direct investments to the project.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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