Hyundai-Nishat Signs Agreement With Millat IFS Business & IFS Srilanka

Hyundai Nishat Motor Private Limited has signed up for IFS ERP Solutions from Millat IFS Business and IFS Sri Lanka.

The signing ceremony, held in Millat Group Office, was attended by Mian Muhammad Mansha, Chairman of Nishat Group and Mr. Sikandar Mustafa Khan, Chairman Millat Group

Hyundai Nishat Motors is their 10th client in Pakistan. The deal was signed at a special signing ceremony at Millat Group Office.

Millat IFS Business in the IT arm of Millat Tractors Limited and is the Channel Partner of IFS Sweden in Pakistan.

Millat Tractors are 18% stake partners in the new company. Millat has a good track record of developing local vendors and has achieved over 90% localization (local auto parts usage).

Hyundai’s state-of-the-art manufacturing plant is being installed in the industrial estate of Faisalabad spanning over an area of 70 acres with an investment outlay estimated at over Rs 15 billion. The project is being set up under the auspices of the Automotive Development Policy (2016-21) announced by the Government of Pakistan.

The commercial operations are scheduled to begin by the end of 2019.

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