$3.5 Billion Foreign Investment Deal Signed for Reko Diq Project; 75,000 Jobs to Be Created in Balochistan

Quetta: In a major economic development, a **$3.5 billion foreign investment agreement** has been finalized for the **Reko Diq copper and gold mining project** in Balochistan. According to official sources, the deal has been concluded between the **International Oil and Gas Development Company** and **11 global financial institutions**.

The loan disbursement process for the project is expected to begin within the **next 45 to 90 days**, while construction of the **basic infrastructure** is likely to commence in the **next two to four months**, sources added.

The **Reko Diq project** will be jointly owned by the **federal government of Pakistan** and the **government of Balochistan**.

The project, which has an expected **lifespan of 37 years**, is projected to generate around **$90 billion worth of mineral output** over its duration. Under the plan, **53 processing plants** will be established across Balochistan — with **11 plants in the first phase**, **15 in the second**, and **27 in the third phase**.

In the first stage, **$16.6 billion** will be invested in **Chagai district**, followed by **$7.7 billion** in the second phase and **$4.8 billion** in the third.

Officials estimate that the project will create **over 75,000 employment opportunities** in Balochistan, marking one of the largest job-creation initiatives in the province’s history.

Upon completion, Pakistan is expected to earn approximately **$35 billion annually in foreign exchange**, significantly strengthening the national economy.

The **Reko Diq project** is scheduled for completion between **2025 and 2028**, with **commercial production set to begin in 2028**.