Hyundai Nishat signs pact with production ministry


Breaking News- Karachi (Newz247) Hyundai Nishat Motor Ltd has signed an investment agreement with the Ministry of Industries and production underneath automobile development policy 2016-21 for putting in a greenfield project to undertake meeting and sale of passenger and one-tonne commercial automobiles.

In line with a stock notice on Friday, the project may be capable of avail duty concessions and incentives under the auto coverage subject to the crowning glory of requisite formalities.

The company has planned a groundbreaking rite on Dec 20 at M-three industrial city, Faisalabad. Senior officers of Nishat mills stated the manufacturing of cars could begin within years. But, they did no longer provide any information about the investment length and names of cars that might be constructed in Pakistan.