Minister of State for Investment and Privatisation Umar Ahmad Ghuman has said that a multinational, Coastal Group International of the UAE would invest one billion dollars for setting up a Mercedes car plant near Sambrial. Talking to reporters in Sambrial on Sunday, the minister said that the proposed car plant would be developed over 200 acres of land with work on the project starting by the end of current year.
Umar Ghuman said that this car plant would start its production by the end of 2006 and produce around a thousand cars annually. The car plant would provide job opportunities to nearly 3000 local people, helping in bringing down the unemployment graph in the area, he added.
He said that the government has developed a business-friendly environment aimed at promoting the industrial sector as well as to ensure foreign investment in the country.
Many foreign investors have showed their keen interests in setting up new industrial projects in Pakistan, the minister said.
The State Minister for Investment and Privatisation said that all modes and means were being mobilised for attracting the foreign investment in Pakistan.