Hyundai to set up assembling plant in Pakistan

[Hyde]

Hyundai to set up assembling plant in Pakistan

KARACHI (Dunya News) - The economic growth in the country has started paying off and following the improvement in the security situation and the government s offer to provide tax breaks for the foreign investors, several foreign companies have expressed interest in establishing their units in Pakistan.

In a major development in the auto industry today (Friday), Nishat Mills signed an agreement with Hyundai to set up an assembling plant in the country.

Agreement has been signed between Nishat Mills and Hyundai Motor Company of South Korea and Sojitz Corporation Japan for negotiating and establishing a framework for setting up a green field project for plant’s assembly and sales of passenger and one ton range commercial vehicles in Pakistan.

The establishment of the assembling unit would be commenced following statutory and regulatory approvals.

According to the market sources, the investment would range from 400 million dollars to 500 million dollars. After completion of the paperwork, the plant would be established within two to three years.

Sources revealed that some Chinese companies have also shown interest in investing in the country s auto sector. Companies namely FAW and Foton Automobile Companies are keen to invest in Pakistan.

http://dunyanews.tv/en/Business/373478-Hyundai-to-set-up-assembling-plant-in-Pakistan

 

[Hassan Guy]

I heard Renault as well?

 

[Hyde]

I heard Renault as well?

Yes... Renault by 2018

I guess Hyundai will be very popular brand in Pakistan as it meets the budget of most Pakistanis who buy brand new cars

 

[Trango Towers]

I FEEL so lonely....is there anyone I can talk to ?

 

[Ultimate Weapon]

I FEEL so lonely....is there anyone I can talk to ?

Dear friend. Don't worry we are still not isolated.

 

[Max Pain]

What about Deewan Motors?
they used to be the ones introducing the Hyundai and Kia cars in Pakistan and last year they also announced to assemble Hyundai Shehzore again followed by Passenger Cars,

Is Hyundai dealing with two different Parties in Pakistan?

I heard Renault as well?

They are Upgrading the Gandhara Plant in Karachi and once the Plant is Upgraded they'll roll our vehicles, by late 2018

 

[The Sandman]

I really hope they launch Elantra and Sonata at cheap rates to counter that japanese junk aka corolla and civic.

 

[H!TchHiker]

I really hope they launch Elantra and Sonata at cheap rates to counter that japanese junk aka corolla and civic.

Even accent at the price of Cultus is 100 times better

 

[VCheng]

Agreement has been signed between Nishat Mills and Hyundai Motor Company of South Korea and Sojitz Corporation Japan for negotiating and establishing a framework for setting up a green field project for plant’s assembly and sales of passenger and one ton range commercial vehicles in Pakistan.

So it has been agreed to start negotiations that will lead to a framework that will then set up a project to assemble car and LCVs. It is good to talk.

 

[Kompromat]

Assembly, not manufacturing.

 

[Hassan Guy]

Assembly, not manufacturing.

Oh,

well thats useless

 

[The Accountant]

I really hope they launch Elantra and Sonata at cheap rates to counter that japanese junk aka corolla and civic.

Elantra and Sonata are lovely cars ... and are in budget as well ...

 

[RangeMaster]

Welcome in advance....

 

[Flash_Ninja]

Oh,

well thats useless

Makes sense though, they want to test the waters a bit first.

Manufacturing plants are really expensive, and they would only build one if the market was big enough to justify the costs.

 

[Pakistan First]

Hyundai is going to bring a tectonic shift in Pakistani automobile sector.