The Express Tribune reported that that Pakistan has turned down a proposal by ArcelorMittal to invest in a coal project in the Thar desert of Sindh province.

A senior official of the Government of Sindh, also associated with the Thar coal project, on the condition of anonymity told The Express Tribune that the offer was made by Indian industrial tycoon Mr LN Mittal’s company and was brokered through a consultant firm in Dubai.

The reason for rejecting the offer, according to the official, was sensitive relations between the two countries.

The investment offer was reportedly above USD 2 billion. In the offer, it was said that the coal obtained from Thar would be used by the company ArcelorMittal’s steel plants situated in India and other countries.

(Sourced from The Express Tribune)