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New auto companies to invest over $800m in Pakistan

New auto companies to invest over $800m in Pakistan

ISLAMABAD: The government has given new projects of five vehicle manufacturing companies including Hyundai, Kia, and Regal Automobiles investment status under the Automotive Development Policy 2016-21, which is expected to bring investments of over $800 million to Pakistan.

According to the Engineering Development Board (EDB), which works under the Ministry of Industries and Production, it is facilitating fresh investments in the auto sector from new companies including joint ventures with foreign players, Radio Pakistan reported.