The Ministry of Industry and Production has approved the set-up of assembly plants for 3 automotive manufacturers.
The companies in collaboration with local partners will invest $372 million to set up the assembly/manufacturing plants.
United Motors Private Limited, Kia-Lucky Motors Pakistan Limited and Nishat Group will set up units for assembly and manufacturing of vehicles under the Greenfield investment category, Ministry of Industries Secretary Khizar Hayat Gondal has confirmed.
He further added that foreign investment worth $372 million will be brought to Pakistan through the plants. maximum investment of $190 million will be made by Kia-Lucky, followed by $164 million by Nishat Group and $18.1 million by United Motors, he further elaborated.
“The government of Pakistan is pleased to award the Category-A Greenfield Investment Status to United Motors (Pvt) Limited for assembly/manufacture of vehicles covered in the exclusive contract agreement,” -Notification issued by the Ministry of Industry
The Nishat Group will be in partnership with South Korea-based Hyundai Company, United Motors would set up a plant with Chinese collaboration. Whereas Lucky Cement would also collaborate with another South Korean firm, Kia Motors.
Which other companies would you like to see in Pakistan?
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