ISLAMABAD – A new collaboration is on the cards with Sino-Pak Tire seekingto explore import substitution prospects in the country. The localstakeholder in this venture is MSD Tires and Rubber, which manages awholesale business in Pakistan.
Officials from this joint-venture have stated that the partnership aims totap the increasing demand for vehicle tires in the country coupled with itslocational edge. The majority shares of this venture are held by theinvestment bank.
The partnership is looking into investing close to $600 million in thePakistani market and setting up its production plant in either Karachi orGwadar with a signed agreement between M/s Doublestar, MSD Tyre and DaewooPakistan Express Bus Service Limited already in place.
They are hoping to produce 6 million tires annually with half for cars andthe rest for trucks and heavy-duty vehicles.
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The joint project is already forecasting an export potential for tires fromPakistan and according to it, tires manufactured here can be exported toAfrica and Central Asia.
