Sazgar Engineering to manufacture automobiles under brand name “BAIC”

MG News | March 28, 2018 at 02:00 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

In a notice addressed to the exchange, Sazgar Engineering Works (SAZEW) today announced that it has been awarded “Category A-, Greenfield Investment Status” to assemble and manufacture passenger and off-road vehicles in Pakistan.

The manufacturers and assembler of Sazgar Auto rickshaws among other auto parts will manufacture these vehicles under the brand name of “BAIC”.

The project approved has an estimated cost of Rs. 1,760 million and is expected to be completed by June, 2019 with a production capacity of 24,000 units per annum.

The company had entered in an agreement with a Chinese Automobile Manufacturer for manufacture, assembly, sales and after sales service passenger and off road vehicles.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,478.94 174.95M	-0.41% -696.57
ALLSHR	102,885.54 725.60M	-0.29% -297.60
KSE30	50,877.61 79.52M	-0.67% -344.88
KMI30	243,917.86 73.26M	-0.62% -1524.88
KMIALLSHR	66,743.35 311.96M	-0.35% -234.16
BKTi	46,317.47 21.24M	-0.81% -377.00
OGTi	35,218.63 5.39M	-1.33% -473.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	61,585.00	62,405.00 59,600.00	1070.00 1.77%
BRENT CRUDE	92.78	95.90 92.67	-2.25 -2.37%
RICHARDS BAY COAL MONTHLY	122.00	122.00 121.00	-0.75 -0.61%
ROTTERDAM COAL MONTHLY	134.35	138.25 134.00	0.30 0.22%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	90.25	93.63 89.68	-2.79 -3.00%
SUGAR #11 WORLD	14.12	14.50 14.09	-0.15 -1.05%