Sazgar Engineering Works Limited has clarified recent media reports regarding its involvement in a three-wheelers manufacturing project in the Philippines. The company confirmed that while its distributor has established a manufacturing plant, Sazgar itself has not made any equity investment in this venture.
- The distributor is setting up a manufacturing and assembly plant for Sazgar's three-wheelers in the Philippines.
- Sazgar will support the project with technical assistance, enhancing export volume and international presence.
- The company plans to export CKD (Completely Knocked Down) units to the Philippines, contributing to foreign exchange earnings.
- No equity investment has been made by Sazgar in the Philippine plant; future investments will be disclosed as per regulations.