Summary The board of directors of the company has approved Millat Tractors' participation.
FAISALABAD (Dunya News) - Board of Directors of Millat Tractors has approved up to 18 percent investment in upcoming greenfield project of Hyundai Nishat Mills Limited.
Millat Tractors in filing to Pakistan Stock Exchange said that they have received an offer from Nishat Mills to make an investment up to 18 percent in Hyundai Nishat Mills Limited.
READ: Hyundai Nishat Motor inks agreement with govt to enter Pakistan s car market
The company will be formed after an agreement reached between Nishat Mills Limited and Sojitz Corporation, Japan setting a green field project for assembly and sale of Hyundai Motor vehicles in Pakistan.
The board of directors of the company has approved Millat Tractors’ participation up to 18 percent in the JV company, Millat Tractors said in a statement.
(Story by Haris Zamir)
