Pakistan, China to cooperate in setting up automotive industry

ISLAMABAD (APP) - An automotive assembly plant would be set up in Punjab with the help of a Chinese company at a cost of US $ 30 million. According to a private news channel, Chinese major city, Mianyang, Commerce and Sourcing House (CASH) a Pakistani company registered in Hong Kong and Shenzhen and Mianyang Huarui Automotive Co. Ltd signed an agreement to this effect. Masood Akhtar, the Consul General of Pakistan in Chengdu and Liu Dong the Mayor of Mianyan,attend the ceremony. Chengdu is the sister city of Lahore. Mianyang Huarui Automotive Co., Ltd is a part of Brilliance Jinbei Automotive Group. The plant will be established in an area of 51 acres. The proposed company will have the capacity to build 50,000 vehicles per annum. Both parties will hold 50 percent share of the proposed company. Based upon preliminary data gathered here, the assembled vehicles will consist of 1.5 to two ton single and dual cabin trucks, Jeeps, single/dual cabin pick-ups and mini-vans. However, the final product mix and volumes will be decided in May this year after the joint visit by both companies to Pakistan for a detailed market survey. Commerce and Sourcing House in collaboration with Board of investments in Islamabad also plans to bring a group of 20 Chinese investors to Pakistan in May 2009.

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