Mumbai Tata Motors has entered Pakistan through its 100 per cent South Korean subsidiary, Tata Daewoo Commercial Vehicles Ltd (TDCV).
A plant for assembling heavy-duty trucks was commissioned in Karachi by Afzal Motors of Pakistan, in technical collaboration with TDCV.
The Prime Minister of Pakistan, Mr Shaukat Aziz, inaugurated the plant on Friday in the presence of senior management of TDCV and Afzal Motors, according to a Tata Motors release.
The plant, which has a production capacity of 3,000 vehicles a year, will assemble TDCV trucks and buses from Daewoo Bus Company.
The truck range comprises 4x2 and 6x4 tractor-trailers powered by 300 hp diesel engines that would be an industry first in that country.
The sourcing of CKD sets of TDCV trucks has already begun.
In 2005-06, TDCV posted a turnover of Rs 1,584 crore, notching a growth of 34.5 per cent, while net profit was at Rs 58 crore, recording 160 per cent year-on-year increase.
In 2007-08, TDCV, the second largest truck manufacturer in South Korea, expects to garner 30 per cent market share of the current 1,600-2,000 units sold annually in the heavy commercial vehicles market in Pakistan, the release added.
Speaking on the occasion, Mr Aziz said that the tie-up between an international manufacturer like TDCV and Afzal Motors would boost the efficiency of the transportation sector of the country.
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: email@example.com.