First Pakistani-Korean Auto Parts Venture Signed

The first ever joint venture agreement for manufacturing of automotive parts was signed between JinKwang, a South Korean firm and JAZ Engineering of Pakistan in the presence of Minister for Industries and Production, Jehangir Khan Tareen on Monday night. The joint venture company, Jinkwang JAZ Ltd, has planned to start manufacturing operation with two production lines, using state-of-the-art equipment to be imported from Korea.

The production facilities of the plant will consist of 450 tonnes auto billet shear, two induction heaters of 350 and 500 KW, toe forging presses of 750 tonnes and 1,350 tonnes, two trimming presses, conveyor type normalising oven, conveyor type Q/T oven, 500 kg Shot blasting equipment and necessary testing and measuring equipment.
The plant will be situated on seven acres of land at Pakistan Steel Downstream Industrial Area, Bin Qasim and construction of manufacturing facilities is expected to start during next month and the commercial production will start from July 2005…