A memorandum of understanding (MoU) has been signed, which will allow manufacturing of Chinese heavy transport vehicles and related technology in Pakistan to reap the benefits of China-Pakistan Economic Corridor (CPEC) project.
Related: BYD to Introduce Electric Vehicles in Pakistan
The Rawal Industrial Equipment and Malik Group of Companies entered into the agreement in this regard at a ceremony held here at a hotel. Chairman and CEO of Malik Group of Companies Malik Khuda Baksh and CEO of Rawal Industrial Equipment Farrukh Kamal signed the MoU on the occasion.
Speaking on the occasion, Kamal said that his company had been formed some four years back in view of the increasing trade relations between China and Pakistan in the backdrop of the CPEC. He said that assembly plant for the indigenous manufacturing of the heavy transport vehicles and related technology was being established at Daudkhel in District Mianwali, which is situated on the route of the CPEC. The assembly plant will start its production by the end of current year.
Related: Rahmat Group to Establish Electric Vehicle Complex at Nooriabad
He said that his unit would initially create up to 5,000 job opportunities, adding that one of the prime productions of this assembly plant would be luxury buses whose demand in the country would increase with tourism prospects increasing in Pakistan. Trucks, tankers, excavators, prime movers, earth moving machinery, and related technology will also be assembled at the plant.
Speaking on the occasion, Malik Khuda Baksh said that the main reason his company had entered into the agreement was the massive demand for buses for public transportation in urban parts of Sindh including specialized vehicles required for the proposed Bus Rapid Transit System in Karachi.
Related: Chinese Bus Company Signs Deal with Pakistani Partner for Auto Factory
“This is really need of the hour,” he said while adding that he had been in contact with Sindh Transport Department to introduce such buses of Chinese-origin for public transportation service in cities like Karachi. The assembly plant in Daudkhel Near Kalabagh will produce 600 Sunlong buses per annum, 5000 Shacman trucks, 10,000 CIMC-RJST Semi trailers and Tankers. Cost of the Project is 7 to 10 million US Dollars.
From Business Recorder
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
wpDiscuz
