Indus Motor Company announces $100mn investment

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An investment of US $100 million has been revealed by Indus Motor Company Limited (IMC) over the period of the next 3 years. The investment aims for the local production of Hybrid Electric Vehicle (HEV) in Pakistan.

The said investment plan by the company was made after the incentives provided in taxes and duties announced by the Government of Pakistan through the recent Finance Act, 2021 and subsequent SROs, as per the notice issued to Exchange.

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“We are pleased to announce that, based on the incentives provided against certain taxes and duties as announced by the Government of Pakistan through Finance Act, 2021 and subsequent SROs, the company has evaluated and plans to invest an estimated aggregate amount of $100 million, over the period of next 3 years for the local production of Hybrid Electric Vehicle (HEV) in Pakistan,” said Indus Motor.

IMC said that the announced investment shall be made towards plant upgradation and extension, localisation of parts or components and production preparation or assembling of the first Hybrid Electric Vehicle, by the company at its plant in Port Qasim Authority, Karachi.

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