Ghandhara Nissan Limited procuring plant for Brownfield Project

The Ghandhara Nissan Limited (GNL), a manufacturer of a range of vehicles within the automotive industry of Pakistan, revealed on Wednesday that it is in the process of procuring plant and machinery for the Brownfield Project.

The company is also working on the capacity enhancement of the plant to meet the forecasted sales volumes, stated GNL in a notification sent to the Pakistan Stock Exchange (PSX).

“The manufacturing team had visited Nissan Motor plant, in order to get familiar with the Datsun assembly process as per Industry's best practices and to finalize the Machinery & Equipment requirements for the manufacturing facilities.

“Apart from above, Nissan Motor Co., Ltd. Japan (NML) engineers have frequently visited the plant for the support of manufacturing preparation,” the company stated.

The company informed that its dealer development team is currently working to find out the potential locations in major cities as part of the network development plan. The company has also shared the request for quotation with its potential vendors for the targeted parts and is closely working with the Company on supplier development.

About its financial arrangements, the company said it issued right shares during the financial year 2017-18, to partially finance the investment for the revival of car assembly facility and allied activities for Datsun passenger car project.

About Pakistan economy, GNL stated that the country’s economy witnessed quite a few challenges over the recent past that have a significant impact on the affairs of automobile industry in general and its Datsun project in particular.

“These challenges mainly include devaluation of local currency against US Dollar, tightening measures by Central Bank like increasing discount rate to ensure macro-economic stability, etc,” read the notification.