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Reko diq: The Reko Diq project has entered a new era of partnership due to the support of Special Investment Facilitation Council (SIFC). As a result of SIFC efforts, major investment and financing hurdles in the Reko Diq project have been resolved.
According to Radio Pakistan, Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Government Holdings Private Limited will provide financing guarantees through a joint corporate guarantee. OGDCL has approved 715 million dollars in funding for the first phase of the Reko Diq project.
Reko Diq Mining Company will provide a 350 million dollars loan to construct a new railway line for the project. Under the ML-3 project, Reko Diq will be connected to Port Qasim via railway track within three years.
One of the largest mining projects in Pakistan’s history, the Reko Diq project is expected to generate ninety billion dollars in revenue. The project will generate thousands of jobs and new business opportunities in Balochistan.