Pakistan Refinery Limited (PRL) has denied recent reports claiming that it secured a $1 billion investment from a Chinese company.
In a statement released on Thursday, PRL clarified, “The news clipping dated October 17, 2024, was not issued by us, and we have not entered into any such agreement with a Chinese company.”
The company referred to an earlier communication from May 22, 2024, where it had informed the Pakistan Stock Exchange (PSX) about the visit of its senior management to China. The visit aimed to engage with potential EPC contractors and financial institutions, with Chinese companies expressing interest in collaborating on PRL’s projects.
PRL is involved in the production and sale of petroleum products and operates as a subsidiary of Pakistan State Oil Company Limited (PSO).
