A Saudi delegation headed by Minister for Energy, Industry, and Minerals Khalid Abdul Aziz D Al Falih visited Gwadar on Saturday to inspect the site for the proposed oil refinery, Radio Pakistan reported.

Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan received the Saudi delegation at the deep seaport city — an ultimate destination of the China Pakistan Economic Corridor.

Describing the proposed refinery a "state-of-the-art facility", Sarwar Khan said it would be the biggest investment of the Saudi government in Pakistan, for which a memorandum of understanding was expected to be signed later this month, read a statement issued by the ministry.

The petroleum minister said Pakistan and Saudi Arabia were enjoying cordial relations.

The CEO of Al Buainain group, an associate company of Aramco, was also part of the delegation.

Pakistan and Saudi Arabia are likely to sign memoranda of understanding for more than $10 billion Saudi investment in Pakistan this month. The government will also sign similar MoUs with China, the United Arab Emirates and Malaysia over the next two months.