Two local companies have signed a memorandum of understanding (MoU) aiming to assemble and manufacture Chinese heavy transport vehicles in Pakistan.
The multi-billion dollar China-Pakistan Economic Corridor (CPEC) has become a gateway to bring China’s automotive technology in Pakistan.
The two companies Rawal Industries Equipment and Malik Group of Companies signed the agreement in a ceremony. At the occasion Farrukh Kamal the CEO of Rawal Industries Equipment and Malik Khuda Baksh the Chairman and CEO of Malik Group of Industries were present.
The collaborative effort of the companies will bring the latest technology in Pakistan and create job opportunities for both skilled and unskilled workers.
Farrukh Kamal said that the company was developed four years back keeping in mind the trade relations between China and Pakistan in light of CPEC project.
He disclosed that for heavy transport vehicles, the assembly plant was being established Daudkhel, Mianwali. The plant’s location has high significance as it is located on the route of CPEC. The assembly plant will start production by the end by 2019 and create 5000 job opportunities.
Malik Group of Companies head addressed the audience and expressed similar sentiments as his counterpart. He said that there is a rising demand for buses in Pakistan, thus his company has agreed to collaborate in this project.