IPDF investor forum to promote trucking industry on Wednesday

ISLAMABAD: The Infrastructure Project Development Facility (IPDF) and the Ministry of Finance will hold an investor forum on July 13 (Wednesday) for opportunities in automobile sector to be implemented on Public Private Partnership modality.

According to a statement issued here, the IPDF is assisting Heavy Industries Taxila (HIT) in selection of a private party with exclusive territorial rights to promote North Benz prime movers for the entire country under Build, Own and Operate (BOO) basis.

It said that existing infrastructure and capacity of Heavy Industries Taxila will be utilized for the production of Euro-III North Benz prime mover in the 360 HP and above category.

The statement said that the HIT, National Logistic Cell (NLC) and North China Industries Corporation (NORINCO), a state owned Chinese firm are equal shareholders in the proposed joint venture.

The IPDF is also assisting Ministry of Industries and Production in selection of a strategic partner for revival of Sindh Engineering Limited.

The Sindh Engineering Limited has an automobile-cum-progressive manufacturing unit for Light Commercial Vehicles.

The Sindh Engineering Limited is 100 per cent owned by the government through Pakistan Automobile Corporation and is administratively under the Ministry of Industries and Production, it added.

The Public Private Partnership intervention would include jointly establishing the technology up-gradation and manufacturing of light commercial vehicles or other manufacturing opportunities.

Copyright APP (Associated Press of Pakistan), 2011