February 6, 2019 (MLN): Ghandhara Nissan Limited has provided another update on the progress of its Brownfield Project, through a notification issued to the Pakistan Stock Exchange (PSX).
The Company is currently in the process of procuring plant and machinery for project including jigs and fixtures.
Additionally, they are also working on enhancing the plant’s capacity to meet the forecasted sales volumes.
Other than this, the company has recently conducted a detailed market study through an independent research agency to evaluate the project variables considering the existing market conditions and external factors.
Request for Quotation has been shared with the potential vendors for the targeted parts. Technical evaluation of the local suppliers has been completed and going forward Technical Assistance Agreement (TAA) will be shared with the potential vendors for the development of crucial parts.
In order to partially finance the investment for revival of car assembly facility and allied activities tor Datsun passenger car project, the Company issued right shares during the financial year 2017-18.
The Country’s economy witnessed quite a few challenges over the recent past having a significant impact on the affairs of automobile industry in general and our Datsun project in particular. The company has endeavored to accommodate such factors in its business plan and has accordingly engaged banks to conclude financial close (which is in advance stages) for Datsun car project.
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