A major development has been reported in the Reko Diq mining project, as a $3.5 billion foreign investment agreement has been finalized. According to sources, the deal has been signed between an international oil and gas development company and 11 global banks.
Sources said the loan disbursement process is expected to begin within the next 45 to 90 days, while the construction of basic infrastructure is likely to start within two to four months.
The Reko Diq project will be jointly owned by the federal government and the Government of Balochistan. The project’s completion is estimated to take around 37 years, with a total mineral output expected to reach $90 billion over its lifespan.
Under the agreement, a total of 53 plants will be installed across Balochistan — 11 in the first phase, 15 in the second, and 27 in the third phase.
In Chagai district, the first phase alone will attract $16.6 billion in investment, followed by $7.7 billion in the second phase and $4.8 billion in the third.
The project is expected to create more than 75,000 jobs in Balochistan, marking a significant milestone for the province’s economic growth and development.
Upon completion, Pakistan is projected to earn nearly $35 billion annually in foreign exchange, strengthening the country’s overall economy.
According to project planners, Reko Diq’s development is scheduled between 2025 and 2028, with production expected to commence by 2028.
