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OGDCL approves $627m funding for Reko Diq project

Summary by The Express Tribune

Oil and Gas Development Company Limited (OGDCL), one of Pakistan's largest exploration and production (E&P) firms, has approved a significant increase in its funding commitment for the Reko Diq project, raising it to $627 million. The announcement was made in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “The Board of Directors of the company has approved an increase in the company’s funding commitment with respect to the project, re…

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The Express Tribune

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OGDCL approves $627m funding for Reko Diq project

7 days ago·Pakistan

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The Financial Daily

ECC Approves $500 Million Increase in Reko Diq Cost, Development Plan - The Financial Daily

ISLAMABAD, March 18, 2025 – The Economic Coordination Committee (ECC) has approved an upward revision of $500 million in the cost and development plan of the Reko Diq project, raising the total estimated valuation from $6.2 billion to $6.7 billion. Saudi Arabia’s Interest in Reko Diq The increase in valuation comes as Pakistan continues negotiations with Saudi Arabia, which has shown interest in acquiring stakes in the massive gold and copper mi…

6 days ago

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humenglish.com

ECC approves revised Reko Diq plan, grant for Skardu sports centre

ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday approved changes to the Reko Diq project’s development plan, addressing cost escalations and an expanded project scope. The ECC met with Minister for Finance and Revenue Senator Muhammad Aurangzeb chairing it virtually from China where he is attending the Boao Forum for Asia 2025, a press release issued by the Finance Division said. https://humenglish.com/latest/ogdcl-completes-re…

7 days ago

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ARY News

Reko-Diq development plan: Key changes approved

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved changes to the Reko-Diq Project’s development plan, along with related financial commitments and project financing considerations. A press release from the Finance Division stated that the ECC meeting was chaired virtually from China by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. Other attendees included Minister for Petroleum, Ali P…

7 days ago·Pakistan

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Minute Mirror

Feasibility study of Reko Diq’s vast gold, copper reserves completed, $627 million investment confirmed

The Oil and Gas Development Company Limited (OGDCL) has announced the completion of the feasibility study for the Reko Diq project, confirming an investment of $627 million. According to the report, this project is a key part of Pakistan’s efforts to develop one of the world’s largest copper and gold reserves. OGDCL holds an 8.33% stake in the project, which, combined with the shares of two other state-owned entities Pakistan Petroleum Limited (…

7 days ago

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