International Engineers have established an expanded gear plant at a cost of Rs 70 million with 40 percent reduced rates for the local automobile assemblers.
Plant officials on Thursday said that the new plant is equipped with state-of-the-art European machinery.
It would also help in saving a substantial amount of foreign exchange on the import of Complete Knock Down (CKD) parts with 40 percent reduced rates of locally manufactured products by the plant, which included transmission parts for Fiat tractors.
Al-Ghazi Tractors Limited Chief Executive Officer (CEO) Pervaiz Ali was the chief guest on the occasion. While appreciating the efforts, he said, with the new developments the plant is now capable of producing transmission system according to the international standards.
He said the International Engineers have the skill to maintain the quality of parts for automobile transmission and engineering components.
They were motivated and believed in continuous struggle for the development of engineering sector of the country, he added.
International Engineers CEO Abdul Latif said that the expanded gear facilities at the plant is a key to self-reliance and development for the auto industry of the country, especially for motorcycles, tractors and commercial vehicles transmission parts, and gears for other industrial sectors.
He said the new plant was recently equipped with modern machinery, especially for differential parts.
The company would serve the Pakistan automobile industry with full strength, he added.
Later, Pervaiz Ali inaugurated the gear plant and also inspected various sections.