Saudi Arabia joined China Pakistan Economic Corridor (CPEC) project with an investment of 10 billion U.S. dollars, Daily Pakistan reported recently.
It is noted that Saudi Arabia plans to develop Gwadar Port, a major port in the southwestern of Baluchistan province, into a petroleum city, according to Daily Pakistan.
Saudi Arabia was the first country invited by Pakistan to be the third party of CPEC project, and it will become the third strategic economic partner in CPEC which could also bring more direct investment for the project, said Fawad Caudhry, Minister at Information and Broadcasting of Pakistan.