Heavy Industries,Taxila and Norinco -China on Thursday inked a Memorandum of Understanding (MoU) paving way for joint marketing and sale, on private-public partnership basis, of jointly manufactured defence and commercial products.
The MoU signed by Lt. Gen Ayaz Saleem Rana, Chairman, Heavy Industries Taxila (HIT) and Wang Li, Vice President of Norinco, the Chinese defence firm, will enable HIT to open itself to international markets in consent with Government of Pakistan and Government of China.
Secretary, Ministry of Defence Production, Lt. Gen (retd)
Shahid Iqbal and Additional Secretary, Tariq Rashid Khan were also present during the signing ceremony.
This MoU signed, on the sidelines of the ongoing defence
exhibition,IDEAS 2012, also encompasses further strengthening of joint commercial ventures undertaken by the two.
HIT established in 1974, in collaboration with Norinco –
China, was initially a rebuilt factory and is presently manufacturing different defence and commercial products including tanks, prime movers, trucks and so-forth.
These are besides essential components of varied heavy load gadgets.
