pzfz
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This won't kill mehran. It's just going to create the renault version of mehran for Pakistanis.
Top International carmakers to setup one of the largest car plant in Pakistan
- Thread starter Shahzaz ud din
- Start date
This won't kill mehran. It's just going to create the renault version of mehran for Pakistanis.
airmarshal
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Lots and lots of Renault in North Africa, Europe and Turkey. In fact Turkey exports Renault. In Turkey, Renault is like Suzuki in Pakistan. Its everywhere.
This is Suzuki Mehran in Turkey.
https://www.renault.com.tr/araclar/binek-araclar/symbol.html
Every government car, taxi, polic car, rental car, staff car is Symbol.
This is Suzuki Mehran in Turkey.
https://www.renault.com.tr/araclar/binek-araclar/symbol.html
Every government car, taxi, polic car, rental car, staff car is Symbol.
YeBeWarned
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Thanks Pee Pee Pee ...
denel
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Yes but their reliability is really attrocious.Lots and lots of Renault in North Africa, Europe and Turkey. In fact Turkey exports Renault. In Turkey, Renault is like Suzuki in Pakistan. Its everywhere.
This is Suzuki Mehran in Turkey.
https://www.renault.com.tr/araclar/binek-araclar/symbol.html
Every government car, taxi, polic car, rental car, staff car is Symbol.
DESERT FIGHTER
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Honda has a bad resale compared to toyotas bro... Honda however is much comfortable and probably the best in its class... no other 1800cc sedan options are there for people except civic or altis...
Other comparable sedans from Audi,BMW,Mercedes are out of the reach of people...
airmarshal
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Verve
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There should be a partnership with one of the manufacturers (not French) to develop local cars with transfer of tech. Slap high taxes on imports and assembled cars to increase sales of locally produced yet good quality modern cars.
Read up on Proton of Malaysia. Joint venture with Mitsubishi for a timeframe and then full control of Malaysian government.
We need technology to manufacture vehicles with complete local logistics, not assembly plants.
Read up on Proton of Malaysia. Joint venture with Mitsubishi for a timeframe and then full control of Malaysian government.
We need technology to manufacture vehicles with complete local logistics, not assembly plants.
newb3e
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ppp hates everyone who is not willing to pay bhutto commissions
somebozo
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Where is parha likha middle class MQM...they cannot get jobs because their city is not business friendly..!
Pakistan could not supply gas to Tuwairqi mills...they should have allowed them to import their own LNG or LPG...Aisha Steel is down stream processor and owner in Tuwairqi Steels..
The company was threatening move to Saudi Arabia as it promised cheaper gas..but nothing happened afterwards. Must check through my contacts at port Qasim wether this plant is still functional..They wont need cheaper gas if dumping from China is controlled..as Chinese steel is sub-standard quality and not really favored by Pakistani industries.
Saudi company may take Pakistan to international court over steel mill dispute
By Zafar Bhutta
Published: July 20, 2016
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Served notice on govt seeking Rs1b in damages for stalled operations at its mill. PHOTO: REUTERS
ISLAMABAD: Saudi Arabia-based Al Tuwairqi Holding Company, which had served the government of Pakistan with a notice to pay Rs1 billion in damages because of stalled operations at its steel mill, has threatened to take its case to the international court of arbitration.
Pakistan is already facing arbitration in international courts regarding the Reko Diq copper and gold mining project in Balochistan and a terminal of Progas Pakistan.
Gas supply row: Al Tuwairqi plans to shift steel plant to Saudi Arabia
Tuwairqi Steel Mills – a joint venture between Saudi Arabian and South Korean companies – had planned to set up Pakistan’s largest steel complex with a production capacity of 1.28 million tons per annum. However, the project was stalled due to a dispute over the gas pricing issue.
The problem
The phase-I of the direct-reduced iron (DRI) plant of Tuwairqi Steel had been completed with an investment of $340 million while the investment in phase-II and III was expected to be made in the range of $850 to $900 million. This, however, was dependent on commercial success of the DRI plant.
According to officials familiar with the development, Al Tuwairqi Holding served the notice on the Ministry of Industries and Production, giving it a month’s time to pay Rs1 billion in damages.
The deadline has already ended on July 7 and now the two sides will be facing each other in the International Chambers of Commerce for a legal battle.
Govt approves Rs480m for Steel Mill to pay salaries ahead of Eid
In May 2004, according to a memorandum of understanding signed with the Saudi Arabian government, Pakistani authorities had agreed to create a level playing field for the supply of gas to Tuwairqi Steel.
According to the management of Tuwairqi Steel, the mill was guaranteed gas supply at a lower tariff to enable it to compete in the international market. In this regard, the Ministry of Industries sent a summary to the Economic Coordination Committee (ECC) three times last year and recommended a gas tariff of Rs123 per million British thermal units for five years.
In the ECC meeting, the ministry argued that though the mill was seeking a financial incentive of Rs4 to Rs5 billion per annum, its DRI plant would contribute an estimated Rs12 billion to Pakistan’s economy.
Apart from this, a foreign investment of Rs89 billion was planned to be made in forward and backward linkages of the DRI plant. After establishing the linkages, the ministry said, the mill would contribute Rs100 billion annually to the economy in import substitution.
However, the ECC dismissed the arguments and consequently work on the steel mill came to a halt.
Salvaging the situation
In an effort to reach a settlement, the steel company later offered 5% of shares in the mill and revised the offer to 15% (126 million shares) for the government of Pakistan without any payment in response to gas supply at a concessionary rate. After 10 years, it was estimated, the share price would stand at Rs162.
Gas suspension shuts down steel mill operations
However, the government refused to accept the offer of the company that besides making investment had employed 1,100 people.
According to the officials, the steel company is still investing Rs10 million every month to meet expenses of its staff and maintenance of the plant.
Al Tuwairqi Holding Chairman Dr Hilal Hussain Al-Tuwairqi, speaking at a press conference in November 2014, had warned the government that the company would pack up if it did not receive promised gas at a concessionary rate.
The management of Saudi-based firm had also engaged ambassadors of Saudi Arabia and South Korea to settle the dispute, but despite efforts the dispute could not be resolved.
Published in The Express Tribune, July 20th, 2016.
Pakistan could not supply gas to Tuwairqi mills...they should have allowed them to import their own LNG or LPG...Aisha Steel is down stream processor and owner in Tuwairqi Steels..
The company was threatening move to Saudi Arabia as it promised cheaper gas..but nothing happened afterwards. Must check through my contacts at port Qasim wether this plant is still functional..They wont need cheaper gas if dumping from China is controlled..as Chinese steel is sub-standard quality and not really favored by Pakistani industries.
Saudi company may take Pakistan to international court over steel mill dispute
By Zafar Bhutta
Published: July 20, 2016
1SHARES
SHARE TWEET EMAIL
Served notice on govt seeking Rs1b in damages for stalled operations at its mill. PHOTO: REUTERS
ISLAMABAD: Saudi Arabia-based Al Tuwairqi Holding Company, which had served the government of Pakistan with a notice to pay Rs1 billion in damages because of stalled operations at its steel mill, has threatened to take its case to the international court of arbitration.
Pakistan is already facing arbitration in international courts regarding the Reko Diq copper and gold mining project in Balochistan and a terminal of Progas Pakistan.
Gas supply row: Al Tuwairqi plans to shift steel plant to Saudi Arabia
Tuwairqi Steel Mills – a joint venture between Saudi Arabian and South Korean companies – had planned to set up Pakistan’s largest steel complex with a production capacity of 1.28 million tons per annum. However, the project was stalled due to a dispute over the gas pricing issue.
The problem
The phase-I of the direct-reduced iron (DRI) plant of Tuwairqi Steel had been completed with an investment of $340 million while the investment in phase-II and III was expected to be made in the range of $850 to $900 million. This, however, was dependent on commercial success of the DRI plant.
According to officials familiar with the development, Al Tuwairqi Holding served the notice on the Ministry of Industries and Production, giving it a month’s time to pay Rs1 billion in damages.
The deadline has already ended on July 7 and now the two sides will be facing each other in the International Chambers of Commerce for a legal battle.
Govt approves Rs480m for Steel Mill to pay salaries ahead of Eid
In May 2004, according to a memorandum of understanding signed with the Saudi Arabian government, Pakistani authorities had agreed to create a level playing field for the supply of gas to Tuwairqi Steel.
According to the management of Tuwairqi Steel, the mill was guaranteed gas supply at a lower tariff to enable it to compete in the international market. In this regard, the Ministry of Industries sent a summary to the Economic Coordination Committee (ECC) three times last year and recommended a gas tariff of Rs123 per million British thermal units for five years.
In the ECC meeting, the ministry argued that though the mill was seeking a financial incentive of Rs4 to Rs5 billion per annum, its DRI plant would contribute an estimated Rs12 billion to Pakistan’s economy.
Apart from this, a foreign investment of Rs89 billion was planned to be made in forward and backward linkages of the DRI plant. After establishing the linkages, the ministry said, the mill would contribute Rs100 billion annually to the economy in import substitution.
However, the ECC dismissed the arguments and consequently work on the steel mill came to a halt.
Salvaging the situation
In an effort to reach a settlement, the steel company later offered 5% of shares in the mill and revised the offer to 15% (126 million shares) for the government of Pakistan without any payment in response to gas supply at a concessionary rate. After 10 years, it was estimated, the share price would stand at Rs162.
Gas suspension shuts down steel mill operations
However, the government refused to accept the offer of the company that besides making investment had employed 1,100 people.
According to the officials, the steel company is still investing Rs10 million every month to meet expenses of its staff and maintenance of the plant.
Al Tuwairqi Holding Chairman Dr Hilal Hussain Al-Tuwairqi, speaking at a press conference in November 2014, had warned the government that the company would pack up if it did not receive promised gas at a concessionary rate.
The management of Saudi-based firm had also engaged ambassadors of Saudi Arabia and South Korea to settle the dispute, but despite efforts the dispute could not be resolved.
Published in The Express Tribune, July 20th, 2016.
