Islamabad (TDI): The signing of the $6.4 billion Reko Diq mining project agreement is expected next month, as final arrangements for loans from global partners are being completed.
The financial structure involves global lenders including the US EXIM Bank, World Bank, Asian Development Bank, UK EXIM Bank and contributions from both the federal and Balochistan governments.
Following financial closure, investment inflows towards Pakistan are likely to accelerate, with nearly $3 billion anticipated from international financial partners alone.
Read More: World Bank’s IFC Pledges $300M for Reko Diq
Of the total $6.4 billion, the federal government will bear $3.4 billion, of which $1.7 billion will be attributed to Balochistan under the Petroleum Division’s share.
Production is likely to start nearly three years after financial closure. In the first year of output, combined revenues for the federal and Balochistan governments are anticpated to reach $3 billion.
Read More: Reko Diq Set to Secure $2B+ in Global Funding
The Reko Diq project is seen as one of the largest undeveloped copper-gold deposits in the world and is considered as a major step in attracting foreign direct investment into the mining sector of Pakistan.
