Reuters quoted Malaysian builder Bina Puri Holdings said that its USD 282.72 million highway construction deal with the Pakistan highway authority has been scrapped.
The initial deal signed earlier this year involved expanding a four lane 136 kilometer motorway between Hyderabad and Karachi to six lanes.
Bin Puri said that the agreement was terminated on December 10th as the National Highway Authority of Pakistan did not fulfill certain condition precedents.
The company did not give further details but said it has hired consiltants to pursue claims against the Pakistani authority.
Source:
http://www.steelguru.com/middle_east_news/Bina_Puri_says_Pakistan_highway_deal_gets_scrapped/296028.html
