{"id":1913,"date":"2024-12-22T09:04:14","date_gmt":"2024-12-22T09:04:14","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1913"},"modified":"2025-01-22T16:24:18","modified_gmt":"2025-01-22T16:24:18","slug":"daewoo-express-saudi-pak-consortium-to-finance-rs-2000-million-for-ev-and-euro-iii-intercity-buses","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1913","title":{"rendered":"Daewoo Express, Saudi Pak Consortium to finance Rs. 2,000 million, for EV and Euro III intercity Buses"},"content":{"rendered":"\r\n

ISLAMABAD, Dec 22:<\/strong> Daewoo Pakistan Express Bus Service Limited (Daewoo Express)<\/a> has signed a landmark agreement with a consortium of Development Financial Institutions (DFIs), led by Saudi-Pak Industrial and Agricultural Investment Company Limited,<\/a> to secure a 5-year lease financing facility worth Rs 2,000 million. The funding will facilitate the procurement of Electric Vehicles (EV) and Euro III intercity buses from Golden Dragon, China, marking a significant step towards sustainable and climate-resilient transportation solutions in Pakistan.<\/p>\r\n\r\n\r\n\r\n

The signing ceremony, held at a local hotel on Thursday, was attended by representatives from the DFIs, Daewoo Express, and key stakeholders. The DFIs in the consortium include Pak-China Investment Company Limited, Pak-Libya Holding Pvt Limited, and Pak-Oman Investment Company Limited. JS Bank acted as the Account Bank, while Mohsin Tayebaly & Co served as the Transaction Legal Counsel.<\/p>\r\n\r\n\r\n\r\n

Daewoo Express Leads the Way in Green Transport<\/strong><\/h2>\r\n\r\n\r\n\r\n

Faisal Ahmed Siddiqui, CEO of Daewoo Express, highlighted the company\u2019s commitment to environmental sustainability during the event. \u201cDaewoo Express has been at the forefront of Pakistan\u2019s transport sector for over 25 years, operating a fleet of more than 1,000 buses across intercity and intracity routes,\u201d he said.<\/p>\r\n\r\n\r\n\r\n

He outlined the company\u2019s ambitious 5-year strategy, emphasizing plans to replace a significant portion of its current fleet with environmentally friendly EVs and Euro III buses. \u201cThis transition will not only enhance fleet efficiency but also support Pakistan\u2019s long-term environmental goals,\u201d Siddiqui stated.<\/p>\r\n\r\n\r\n\r\n

Expressing gratitude to the DFIs, he added, \u201cWe deeply appreciate the collaboration that has made this transaction possible, and we are committed to leveraging this opportunity to contribute to a greener future.\u201d<\/p>\r\n\r\n\r\n\r\n

DFIs Drive Sustainable Development<\/strong><\/h2>\r\n\r\n\r\n\r\n

Rizwan Ahmed, General Manager and CEO of Saudi-Pak Industrial and Agricultural Investment Company Ltd., underscored the importance of the initiative. \u201cWe are honored to lead Pakistan\u2019s first-ever DFI Syndicate for a long-term lease arrangement,\u201d he said.<\/p>\r\n\r\n\r\n\r\n

Ahmed expressed hope that the transaction would inspire private-sector participation in sustainable transport and infrastructure projects. \u201cBy supporting long-term financing for green transportation initiatives, DFIs are paving the way for impactful solutions to address environmental challenges,\u201d he remarked.<\/p>\r\n\r\n\r\n\r\n

He also stressed the replicability of such financing structures across various sectors, further amplifying their impact on sustainable development.<\/p>\r\n\r\n\r\n\r\n

Urgency for Green Transportation<\/strong><\/h2>\r\n\r\n\r\n\r\n

With Pakistan ranking among the top ten countries most affected by climate change, sustainable transportation solutions are imperative. The transportation sector is a significant contributor to global emissions, accounting for approximately one-sixth of the total.<\/p>\r\n\r\n\r\n\r\n

This strategic partnership between Daewoo Express and the DFI consortium demonstrates a unified commitment to addressing these challenges and fostering a greener, more sustainable future for Pakistan.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD, Dec 22: Daewoo Pakistan Express Bus Service Limited (Daewoo Express) has signed a landmark agreement with a consortium of Development Financial Institutions (DFIs), led by Saudi-Pak Industrial and Agricultural Investment Company Limited, to secure a 5-year lease financing facility worth Rs 2,000 million. The funding will facilitate the procurement of Electric Vehicles (EV) and […]<\/p>\n","protected":false},"author":1,"featured_media":1914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[5],"tags":[1143,1145,1144,402,1147,1146,14,1119],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t