ISLAMABAD Feb 3 Hyundai Motor Company
plans to set up a car assembly plant in Pakistan in
a joint venture with Pakistani textile giant Nishat Mills, a
Nishat Mills official said on Friday.
Hyundai, South Korea's largest automaker, has been seeking a
local partner to set up an assembly line in Pakistan, Nishat
Mills company secretary Khalid Chauhan told Reuters.
"Today we have signed a memorandum of understanding between
the two companies and we will set up a ... project for the
assembly and sales of both passenger and commercial vehicles,"
Chauhan said. "The project will be subject to statutory and
(Writing by Mehreen Zahra-Malik. Editing by Jane Merriman)