Sindh, Saudi Delegation Sign Landmark Energy and Investment MoUs in Karachi

Sindh’s government signed two major memorandums of understanding with Saudi investors on Thursday, signaling renewed international interest in Pakistan’s energy sector and broader economic landscape. Chief Minister Syed Murad Ali Shah hosted Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pak Joint Business Council, and a 30-member Saudi business delegation at the Chief Minister’s House in Karachi. The visit culminated in two key MoUs: one for the sale and purchase of shares in KES Power Ltd, and another between K-Electric Ltd and Trident Energy Ltd to explore strategic cooperation and investment in Pakistan’s power sector. The agreements come as K-Electric’s latest retail Sukuk offering was oversubscribed, underscoring growing investor confidence in the country’s energy market. The deals are expected to accelerate efforts to upgrade Pakistan’s power generation, transmission, and distribution infrastructure. Chief Minister Shah used the occasion to pitch Sindh as a prime destination for Saudi capital, inviting investment across sectors including agriculture, livestock, mining, infrastructure, energy, and food security. He highlighted Sindh’s pioneering Public-Private Partnership (PPP) model, which has delivered several high-profile infrastructure and social-sector projects. Both sides agreed to establish joint working groups in priority sectors to ensure targeted and sustainable progress. Shah emphasized the importance of both government-to-business and business-to-business collaboration to drive innovation and technology transfer. Prince Mansour praised the Sindh government’s hospitality and acknowledged the “promising business environment” in Karachi and the wider province. He announced the formation of sector-specific sub-committees to identify and target investment opportunities, calling the visit the start of a new era in Saudi-Pakistan economic relations. “Our business council is not new; we have a longstanding history of bilateral trade,” Prince Mansour said. “We are committed to working together to strengthen the economy. Pakistan serves as a gateway for trade across the region and holds significant importance for tourism.” Sindh officials presented a detailed investment portfolio to the Saudi delegation, highlighting the province’s strengths in energy—including coal, solar, wind, and gas—agriculture, logistics, industrial zones, and eco-tourism. Sindh, home to nearly 60 million people, is a key driver of Pakistan’s GDP and tax revenue, with an investable portfolio exceeding $5 billion. Notable projects showcased included the Sindh Engro Coal Mining Company, Sino Sindh Resources’ Thar Block-I coal project, the Nabisar–Vajihar Water Supply Project, NED Technology Park, and tourism ventures such as Hawks Bay Beach Resort and Keenjhar Lake Resort. Shah reaffirmed the government’s commitment to simplifying investment procedures, digitizing land records, and providing end-to-end support to investors. He said close coordination with federal institutions would ensure a business-friendly environment and smooth project execution. The high-level engagement marks a pivotal step toward strengthening bilateral economic ties, boosting trade, and launching new joint ventures between Sindh and Saudi Arabia. The collaboration aligns with Saudi Vision 2030 and Sindh’s ambitions for a dynamic, inclusive future. Shah was joined by cabinet members Dr. Azra Fazal Pechuho, Sharjeel Memon, Nasir Shah, Saeed Ghani, Makhdoom Mahboobzaman, Jam Khan Shoro, Jam Ikram Dharejo, and Mukesh Chawla.