Hyundai partners with local player to set up assembly plant

KARACHI: Al-Haj Group in partnership with Hyundai Motor Company (HMC) has decided to assemble different truck variants and luxury buses in Pakistan at an expected investments of Rs4 billion.

The company has already purchased 30 acres of land outside Karachi as it aims to start production in the next 12 months.

In Phase 1, Al-Haj Hyundai (Pvt) Limited, a separate company, will initially invest Rs1.5 billion through its own resources.

However, if the two partners agree to move forward, Hyundai may invest in Phase 2 that is expected to start in 2019. Al-Haj Group has a market presence since 1960 and is currently assembling Chinese trucks and passenger cars.

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