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Hyundai, Al-Haj to assemble vehicles in Pakistan

Updated May 19, 2017 07:36am

KARACHI: Hyundai of South Korea has joined hands with Al-Haj Group to introduce top-of-the-line heavy commercial vehicles (HCV) through a technology transfer contract (TTC) under the subsidiary of Al-Haj Hyundai Ltd.

Al-Haj Hyundai will initially introduce a heavy duty truck Xcient, Universe Luxury buses and Mighty medium and light duty trucks. Later on, Al-Haj Hyundai also plans to introduce other products of Hyundai in cargo and passenger-handling segments.

The China-Pakistan Economic Corridor (CPEC) has the potential to facilitate up to four per cent of global trade by 2020.

It will accelerate economic growth through the development of a 21st century Maritime Silk Road, encompassing a modern trade and infrastructure network.

Addressing a press conference on Thursday, Al-Haj Hyundai CEO Bilal Khan Afridi said the joint venture will create employment opportunities. He added that the first phase of investment in the plant will involve approximately Rs1.5 billion.

Published in Dawn, May 19th, 2017