ISLAMABAD: Auto-rickshaw maker Sazgar Engineering Works has been granted permission to set up a new cars manufacturing plant in Pakistan in partnership with a Chinese company, it was stated in a notice issued by the Pakistan Stock Exchange. Company’s secretary Arshad Mahmood said, “Ministry of Industries & Production of Pakistan has awarded the Category-A, Greenfield Investment status to our company.” In January, the Sazgar Engineering Works announced that they are initiating to set up light commercial vehicles (LCVs) plant on a fast track basis, a private news channel reported.
They are striving to manufacture the vehicles in a maximum of 18 months in order to tap potential growth in the auto sector in Pakistan. “The (cars and LCVs) project will be completed by June 30, 2019,” he said. The plant would have a “production capacity of 24,000 units per annum,” he added. According to reports, the budget for this project has been approved at Rs 1.76 billion excluding the value of the land already owned by the company. The two partners would manufacture, assemble, sell and offer after sale services of passenger and off-road (like jeeps) vehicles.
