General Tyre and Rubber (GTR) shall be invested in by Ghandara Nissan Limited (GNL) by purchasing shares worth Rs 500 million which is a strategic signed deal between both of them owned by the Kuli brothers’ family.
There shall be no direct or indirect investor interest but GNL shall get dividend from GTR as most of the shareholders except for 27.8 pc directorship shall remain with the Bibojee Services. Last year GTR had also announced Rs 1.2 billion investments for the enhancement of the production but it was worth raising concerns as it was working with cars and sports.
Suzuki has also planned to invest locally and German Automaker Audi is about to set up in Sindh too, which is all because the new auto policy is quite entertaining for the same as Nissan and Renault have also been in talks reportedly.
2573 Nissan Cars have been made by Ghandara from 1996 to 2004 as a small name in comparison to Suzuki, Honda and Toyota while technical assistance with Nissan Motor Co. Japan and joint venture with Nissan Diesel Co. Japan for passenger cars, light weight cars, and heavy weight cars has been with the GNL whose car and truck plants are just besides each other at Port Qasim.
This is the only automaker producing all categories of vehicles though.