Saudi Group eyes airport privatisation process, investment expansion

Saudi Asyad Group has shown strong interest in participating in Pakistan's upcoming airport privatization process, aiming to collaborate with Saudi and international partners, particularly in technical expertise. Federal Finance Minister Muhammad Aurangzeb met with Asyad Group's CEO Ghassan Ahmed Amodi and other key executives to discuss the company's existing investments in Pakistan, expansion plans, and potential new ventures across various sectors.

Amodi reiterated Asyad Group's long-term commitment to Pakistan as an attractive investment destination and highlighted the significance of the country within the group's portfolio.

The finance minister expressed his appreciation for Saudi investors' continued interest in Pakistan and the new opportunities arising from the privatization process. He emphasized the need for credible, long-term investors and facilitating commercially viable investments in key sectors. The meeting also addressed Wafi Energy Pakistan Limited's expansion plans, which include a growing retail network, storage infrastructure, and digitalization initiatives.

The company shared its investments in Khyber Pakhtunkhwa and other parts of Pakistan, along with its aspirations to further expand operations.

Amodi briefed the finance minister on the Group's interest in the upcoming airport privatization process and its efforts to assemble Saudi and international partners with relevant technical expertise. He also disclosed recent advancements in Asyad Group's airport operations and its expanding presence in the sector globally. The discussion also included Wafi Energy Pakistan Limited's ongoing diversification and investments across various sectors, including retail, storage, and digitalization.

The finance minister acknowledged Pakistan's progress towards macroeconomic stability, including improvements in economic indicators and the country's sovereign credit profile. He underscored the government's dedication to fiscal discipline, structural reforms, and fostering an enabling environment for sustainable investment and private-sector-led growth. The minister expressed his satisfaction with Asyad Group's confidence in Pakistan and its commitment to expanding investment.

Aurangzeb assured the government's continued support for investors and efforts to strengthen private-sector participation, promoting investment-led economic growth. He highlighted Pakistan's strategic location as a potential gateway to regional markets and encouraged ongoing collaboration with the private sector to identify viable opportunities and transform investment interest into tangible projects.

Amodi expressed his appreciation for the government's continued engagement and reaffirmed Asyad Group's commitment to further investment in Pakistan and strengthening the enduring economic and commercial partnership between the two nations.