ISLAMABAD, 19 June 2006 — Kuwait is set to invest over two billion dollars in Pakistan. This was revealed by Minister of State for Board of Investment and Special Initiatives Omar Ghuman prior to Kuwait Emir Sheikh Sabah Al-Ahmad Al-Sabah’s visit to Pakistan today.
Ghuman said two MOUs will be signed between Pakistan and Kuwait during the visit. One will deal with investment in real estate and hotel industry and the other with the establishment of an oil refinery at Gawadar with the refining capacity of 100,000 bpd.
Ghuman said Kuwait’s Noor Group of Financial Investment Company will be investing in real estate and hotel industry. He also disclosed that an investors’ conference will be held in Islamabad on June 20 which will be jointly inaugurated by Prime Minister Shaukat Aziz and the Kuwaiti emir.
This will be the first visit to Pakistan by the Kuwaiti emir.
Foreign Office officials said Sheikh Sabah will hold talks with President Gen. Pervez Musharraf on a variety of subjects including the regional situation, bilateral relations and possibilities of Kuwait’s investment in Pakistan.
Officials said some bilateral agreements would also be signed between Pakistan and Kuwait during the visit.
