Karachi: An agreement has been reached between the Chinese investment company ADM Group and two local companies, Malik Enterprises and Indus Valley, for the provision of electric vehicle infrastructure. The agreement for the installation of charging stations for electric vehicles was signed by ADM Group’s CEO, Yasir Bhambhani, Malik Enterprises’ CEO, Malik Khuda Bakhsh, and Indus Valley’s Chairman, Rana Irfan Hameed. Provincial Minister of Industry, Trade, and Investment, Punjab, Chaudhary Shafi Hussain, Deputy Secretary of Commerce, Abu Bakr Zubair, CEO of Railway Construction Pakistan, Syed Najam Saeed, and others were also present at the signing ceremony.
Regarding the agreement between ADM Group and the two local investor companies, Malik Enterprises’ CEO, Malik Khuda Bakhsh, stated that in the first phase, 3,000 electric vehicle charging stations will be established across the country. The Chinese company will invest $90 million, while Indus Valley will provide the land. Malik Enterprises will be responsible for the installation of machinery and obtaining licenses. He further mentioned that in the second phase, there will be a $250 million investment to establish an electric vehicle assembly and manufacturing plant.
Malik Khuda Bakhsh also shared that approximately 1,000 stations will be set up in Karachi and across Sindh, 1,500 in Punjab, and 750 stations in the provinces of Khyber Pakhtunkhwa and Balochistan.