Issued a notification directed by the organization on Friday to the Pakistan Stock Exchange, Sazgar Engineering Works Limited has been granted the ‘Category-A, Greenfield Investment status’ by the Ministry of Industries & Production of Pakistan.
We are delighted to tell you that the Ministry of Industries and Production of Pakistan has granted the Category-A ‘Greenfield Investment status’ to our corporation and accept Great Wall Motors Company Limited as the second main for the assembly production of GWM HAVAL automobiles in addition to BAIC vehicles, stated Sazgar Engineering Works Limited in its arranging on Friday. Sazgar assumes to initiate commercial production of GWM HAVAL automobile by June 30, 2022.
HAVAL – a GWM-recognized SUV brand – is declared for manufacturing SUVs. The company circulates to over sixty foreign countries, with five million HAVAL owners around the world.
On the other hand, Sazgar controls market share in the auto-rickshaw and three-wheeler components in Pakistan. The company accepted the Greenfield status under the Automotive Development Policy in March 2018 and has since been observing to obtain an opportunity to join the country’s automobile market.
Back in May, Sazgar told that it has determined to begin import, market, sell and give after-sales services of Completely Built-Up automobiles under the brand name HAVAL. In this respect, the company initiated the ordering of these automobiles from its approved dealership network.