Islamabad October 8 (Online): A Chinese company has refused investment in Pakistan’s Ring Road project, credible sources said on Thursday.
The company was supposed to invest $ 450,000 million in the development project but according to some credible sources the company has refused investment in the project citing various factors.
The sources said that talks between Pakistani and Chinese officials were in progress when Pakistani officials expressed their interest for Chinese company to invest in the development project or released funds in terms of grant. However, the company officials denied discussion.
The sources said that the government reforms, NAB notices to investors and security related complications are some major concerns expressed by the company management.
Later, the government attempted to complete the project with the support of private companies but neither the government could announce a tender nor any company showed interest.
