Karachi, July 16, 2021 (PPI-OT): Lucky Motors enters into agreement with Samsung

As per the notice shared by Lucky Cement (LUCK), Lucky Motors (71.14% holding by LUCK) has recently entered into an agreement with Samsung Gulf Electronics, FZE for the Production of Samsung mobile devices. Lucky Motors Corporation has started seeking necessary regulatory approvals in this regard and has also filed a petition with the PTA for the license. Key features notified:

The production plant will be located in the Special Economic Zone at Port Qasim, Karachi.

Plant is expected to be completed by December, 2021.

The production capacity and investment amount is yet to be finalized between the two companies.