Sino-Pak tyre venture to invest $ 600Mn

The Sino-Pak Tire Manufacturing Joint Venture is an import substitution opportunity that seeks to leverage Pakistan’s locational advantage as well as growing market for vehicle tyres, said Dr Xu Peng, MD of InvestTarget — the investment bank and private equity fund which is the largest investor in the consortium. The venture will aim to produce 5-6Mn pieces every year, 2-3Mn of which will be for trucks and buses and 3-4Mn for passenger cars. The project is still deciding between Gwadar and Karachi for the site.