Mushtaq Motors to start vehicle manufacturing with the Chinese company KYC, a part of Changhan Group....
The Ministry of Industries and Production (MoIP) has allowed Khalid Mushtaq Motors (Pvt) Ltd (KMML) to set up a vehicle assembly and manufacturing unit in Nooriabad industrial area under the greenfield investment category.
KMML Chief Executive Anwar Iqbal said the company has signed a technical collaboration agreement with the Chinese company KYC, a part of Changhan Group, for assembling light commercial vehicles and mini passenger vans.
“We will market the vehicles with the brand name of Mushtaq,” he said, adding that the total investment of the project is around Rs1 billion which would create 200 direct jobs.
The company has planned to assemble vehicles from second quarter next year.
The plant has the capacity to roll out 100 vehicles per month.
He said the auto industry is blossoming and the China-Pakistan Economic Corridor will also open new avenues for the growing automobiles industry.
According to the industries ministry, the local partner will strictly adhere to the conditions laid down in the notifications.
The company would enter into an agreement with the ministry to ensure compliance to the conditions and various timelines for completion of the project for availing incentives under the Auto Development Policy 2016 .
The Engineering Development Board (EDB) shall issue manufacturing certificate and list of importable components to new investors after it verifies that the assembly facilities established by the company are adequate to produce roadworthy vehicles...
