SAZGAR shifts into high gear with Rs11.5bn expansion

MG News | April 21, 2025 at 09:47 AM GMT+05:00

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April 21, 2025 (MLN): The Board of Directors of Sazgar Engineering Works Limited (PSX: SAZEW) has approved a major revision in its expansion blueprint for the Four-Wheelers Division, significantly scaling up the project scope and cost.

As per the stock filing, the revised plan now includes:

Expansion of the existing paint shop
Construction of new warehousing facilities
Installation of a 5.7-megawatt solar power system
Construction and installation of new manufacturing and assembly facilities for the local assembly of New Energy Vehicles (NEVs) — subject to regulatory approvals.

In line with the expanded scope, the project's estimated cost has surged from Rs4.5 billion to Rs11.5bn (excluding land cost).

The company plans to finance the entire expansion through internal cash generation, signaling a strong cash position and operational confidence.

Meanwhile, the timeline for the first rollout of the CKD model of NEVs has been revised to March 31, 2026, extending from the earlier target of December 31, 2025.

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