The Sindh Engineering (Pvt) Ltd (SEL) is planning to enter into a joint venture arrangement with Dong Feng Automobile Company of People's Republic of China for manufacturing Dong Feng brand of commercial vehicles. Details of the joint venture will be announced here on March 13. SEL is a company of Pakistan Automobile Corporation Ltd, Ministry of Industries.
According to SEL, such arrangements are envisaged at not only expanding the product range of Dong Feng vehicles, currently being assembled at SEL, but also for ensuring transfer of latest automobile technology to Pakistan.
This will also bring in foreign investment in the shape of equity. The joint venture will help produce world known vehicles at reasonable prices. An SEL delegation would be visiting China next week to finalise details of the joint venture. SEL has made arrangements with Faysal Bank for financing Dong Feng vehicles, which will now be included in the 'President's Rozgar Scheme'.