— Al-Haj Group invests initially 1.5 billion out of 4.5 billion in first phase
By Nazir Siyal
KARACHI: Al-Haj Group will invest initially 1.5 billion out of 4.5 billion in first phase to launch Hyundai’s excellent quality product support that is famous automotive pioneer recognized all over the world, under the subsidy of Al-Haj-Hyundai Pvt. Ltd top-of-the-line heavy commercial vehicles through a technology transfer contract (TTC) in Pakistan announced on Thursday.
This was disclosed in pre-launch press conference by the Chairman Hyundai of Korea BAE Kyunjsik and Chief Executive Officer (CEO) Al-Haj group Bilal Afridi here at local hotel. They disclosed that Company has all set to significantly increase its market share in Pakistan to bring more jobs and economic prosperity.
Speaking to The Pioneer BAE Kyunjsik has maintained that Korean Hyundai Company will cooperate in CPEC objectives, while the venture makes Al-Haj group as the official distributor and assembler of Hyundai branded commercial vehicles in the country which ultimately plays a pivotal role in the huge advantage in the automobile market in the Pakistan.
Chief Executive Officer (CEO) Al-Haj group Bilal Afridi and Hilal Afridi Director Al-Haj Group and CEO FAW motors also claimed that the Hyundai vehicles will be number one Pakistan products and it will be continue develop high quality heavy vehicles after consortium with Al-Haj Group.
Hyundai a famous automotive pioneer recognized all over the world has now joined hands with Al-Haj Group with the purpose of introducing top-of-the-line heavy commercial vehicles through a technology transfer contract (TTC), under the subsidy Al-Haj Hyundai Pvt. Ltd. Hyundai’s excellent quality and product support, and Al-Haj Group’s dedication and name in the market since 1960, will aim to upgrade the standards of high quality commercial vehicles.
The China Pakistan Economic Corridor (CPEC) has the potential to facilitate 4% of the global trade volumes to pass through Pakistan by the year 2020. It will accelerate the economic growth of Pakistan and several other countries in the surrounding region, through the development of 21th century maritime Silk Road, encompassing a modern trade infrastructure network.
With the demand of heavy duty vehicles on a sharp rise, Al-Haj Hyundai Pvt. Ltd. Will initially introduce; a heavy duty truck XCIENT, with different variant, UNIVERSE Luxury buses, for intercity travel and MIGHTY median light duty trucks. Later on, Al-Haj Hyundai also plans to introduce various other products of HUNDAI in Cargo and passenger handling segments.
The CEO of Alhaj Hyundai Pvt. Ltd – Bilal Khan Afridi stated that “this joint venture with Hyundai Motors is a wonderful business opportunity for both the companies, and will not only provide employment opportunities, but also upgrade the standards of Local Commercial Product segments with advance Technology and High Quality products.”
AL-HAJ HYUNDAI also plans to construct a state-of-the-art manufacturing cum assembling plant, for HYUNDAI-HCV vehicles. For the plant, the company has already purchased 30 Acres of land on the main National Highway, near Pakistan Steel. The first phase of the plant will be operational by May 2018.
Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan South Korea, which has an annual production capacity of 1.6 million units covering 193 countries.
On the occasion, President Hyundai Company Lee Sounghee, N-A Salmi – Executive Director FAW Motors and Director FAW motors ZA Rehani were present.