August 27, 2006	Sunday	Sha'aban 2, 1427

KARACHI, Aug 26: Silver Seal International (SSI) has entered into an agreement with a Chinese company -- Chongqing Maxwell Hi-Tech Developing Ltd. of Hautwell Group -- to assemble one ton truck in the country.

The local company has also signed a contractual agreement with Sindh Engineering (Pvt) Limited for the assembly of these trucks which will be marketed in December this year with the name of King Star, chief executive officer of SSI Anwar Iqbal said.

He said these trucks would be imported in CKD (Complete Knocked Down) condition as it would attract 15 per cent less customs duty as compared to CBU.

He further said that the difference in duties coupled with cheaper local components under the localisation policy would make this vehicle viable.

He said the company has acquired an land at Hub for establishing a plant within two years.