Hyde
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Updated at: 2106 PST, Saturday, August 22, 2009
Pak enters largest deal to export machinery KARACHI: A plant is being exported under an agreement worth $50 million -- the first largest in the history of Pakistan, Geo News reported Saturday.
Talking to Geo News, partner of Saudi al Kubra group, Majeed Pardesi said his Saudi partners were inclined on importing machinery from India; however, they preferred the import from Pakistan despite all the hurdles.
Pardesi said an upfront payment of $50 million has been made to Heavy Mechanical Complex in view of the prevalent situation in the country, adding the 80 percent work for the machinery export has been completed.
The other parts of the plant will soon be sent to Ethiopia, he added.
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