Indus Motor steers toward Rs1.1bn localization boost

MG News | September 02, 2024 at 09:57 AM GMT+05:00

0:00

September 02, 2024 (MLN): The Board of Directors (BoD) of Indus Motor Company Limited (PSX: INDU) approved a further Investment of Rs1.1 billion to be made by the company for additional localization of parts and components of various existing vehicles.

This will make the total investment in the project for additional localization to Rs4.1bn.

This is part of the company's overall plan to continuously increase the localization of parts and components of vehicles manufactured locally, to reduce the outflow of foreign exchange and promote the local auto industry, generating employment and contributing to the economy.

The announced investment shall be made towards expenditure in plant and machinery, moulds, dies, equipment and related expenses for localization of parts and components to be manufactured locally for various existing vehicles.

The further investment of Rs1.1 billion is planned to be completed by the first quarter of the calendar year 2026.

This information was disseminated by the company through the local bourse.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,812.13 229.60M	0.28% 465.29
ALLSHR	101,941.46 435.00M	0.35% 355.75
KSE30	51,334.37 49.74M	0.28% 141.30
KMI30	243,175.06 31.92M	0.59% 1432.25
KMIALLSHR	67,077.13 253.26M	0.56% 372.85
BKTi	48,213.10 23.85M	0.05% 25.21
OGTi	33,236.35 9.12M	1.78% 582.49

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,690.00	111,065.00 108,115.00	-3415.00 -3.05%
BRENT CRUDE	62.32	62.47 61.38	1.00 1.63%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.10 -1.35%
ROTTERDAM COAL MONTHLY	92.75	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	58.22	58.38 57.34	0.98 1.71%
SUGAR #11 WORLD	15.24	15.82 15.10	-0.48 -3.05%