ISLAMABAD: Saudi Arabia’s Wafi Energy Pakistan company is considering a potential investment of $100 million over the next two to three years to expand its retail infrastructure, modernize operations and pursue digitization initiatives in Pakistan, the Finance Division said on Monday.
Wafi Energy, an affiliate of the Saudi Asyad conglomerate, became the majority shareholder of one of the country’s oldest multinationals, Shell Pakistan Limited (SPL), in November 2024.
Pakistan Finance Minister Muhammad Aurangzeb met a delegation of Wafi Energy Pakistan at the Finance Division on Monday, reaffirming Islamabad’s commitment to macroeconomic stability, enhanced investor confidence and stronger foreign exchange buffers.
“The Wafi Energy Pakistan delegation shared its confidence in Pakistan’s economic outlook and indicated that the company is considering potential investment of up to USD 100 million over the next two to three years,” the Finance Division said.
It added that the investment would be used to expand Wafi Energy Pakistan’s retail and storage infrastructure, modernize operations and pursue technology-driven improvements, including digitization initiatives.
