The National Logistic Cell (NLC) has decided to invest in auto sector in collaboration with a German company in order to cater the rising demand of heavy commercial vehicles following the commencement of China-Pakistan Economic Corridor (CPEC), DawnNews reported on Friday.
"National Logistic Cell has planned to install production plants [in Pakistan] with German Company to produce prime movers," said Engineering Development Board (EDB) chief Tariq Chuadhry.
The NLC will initially be investing Rs500 million to Rs700 million to install a production plant in Pakistan in a bid to manufacture heavy commercial vehicles in collaboration with German MAN Truck and Bus Company, the official further said.
In the first phase, trucks will be produced to meet the requirements of Pakistan Army while in the second phase — keeping in view the rising demand under CEPC — heavy commercial vehicles will be produced as well, it has been learnt.
Around 700 to 1,000 heavy vehicles will be produced annually and later on the production capacity will be enhanced accordingly, the official said.
MAN Truck and Bus, with headquarters in Munich, is one of the leading international suppliers of commercial vehicles and transport solutions in Europe, with production plants in three European countries as well as in Russia, South Africa, India and Turkey.