An eight-member delegation of foreign investors of Daimler Chrysler, owned by European, USA and other investors, will reach Pakistan on Monday to finalise investment plans to start production of Mercedes-Benz car and trucks of all kinds, including special engines for the armoured vehicles.
According to a Press release by the Board of Investment (BoI) here on Sunday, the group includes the chairman, Coastal Group of companies, Yusif Najibi, Daimler Chrysler Vice President Peter Grosch, Senior Vice President Martin Daum, Head of Transmission ZF Friedrichshafen AG, Dr Thomas P. Stoll, Chairman FFG Flensburg AG Nobert Erichsen, and board member of FFG.
The group plans to invest $2 billion in hydel power generation and $9 million in auto sector, the press release added.
The group is renowned in the auto sector and its revenue in 2003 was $171 billion. During three-day stay in Pakistan, the group is likely to meet President Pervez Musharraf, Prime Minister Shaukat Aziz and Minister of State for Investment and Privatisation Umar Ahmad Ghuman besides, visiting HMC Taxila.