KARACHI, Pakistan: Leading automobile company Master Changan Motors Company Limited (MCML) has signed a contract with Orient Power System for installing a 2.5MW solar power project at its Changan production facility at Port Qasim in Karachi.
Bank Al Habib has been nominated as the lead banking arranger for this project.
The project will initiate a Green Automotive Manufacturing Revolution at Master Changan Motors by helping the sustainability of its energy mix and, at the same time, reducing its carbon footprint and the burden on the national grid.
Samir Malik, COO of MCML, said: “In recent years, Pakistan has been one of the most adversely impacted countries by global warming, severely affecting the weather patterns resulting in flooding, heat waves, a water crisis and much more. Pakistan has also faced an energy deficit of huge proportions, which has crippled the manufacturing industry, hindered growth rates, and impacted the lives and livelihood of people.
At Master Changan Motors we deeply care about the well-being of our community, environment and future generations. It is our vision to be Pakistan’s first Green Automotive Manufacturer by becoming a carbon neutral company by 2025.
This 2.5 MW solar power project is one of the largest adoption of renewable energy among the automotive manufacturers in Pakistan. It is being installed for self-consumption, producing approximately 3.5 million units of clean and renewable electricity every year, which will result in a significant drop in MCML’s carbon footprint. Making Changan vehicles one of the most sustainably produced vehicles in Pakistan.”
Master Changan Motors Company Limited is an ISO-certified automobile assembling manufacturing company formed in 2018 and is part of the Master Group of Industries. Master Group of Industries is one of the oldest, most trusted and loved brands of Pakistan since 1963. It caters to a variety of sectors: mattress, and sleep industry – Master MoltyFoam & Master Celeste, office furniture and services – MasterOffisys, textile – Master Textiles, power generation – MasterWind Energy, chemicals – Master Thermoshield, and automotive – Master Motor and Procon Engineering.
Master Motor has seen major success in the automotive industry since 2002 and has successfully introduced the renowned brands such as Foton, Mitsubishi Fuso, and Yutong Master. The company has since continued to satisfy customer demands across various segments of light, medium and heavy duty trucks, and busses. Master Changan Motors Limited acquired Greenfield Status under the Auto Policy 2016-2021, a joint venture between Master Motor and Changan automobile with an initial investment of $100 million – the largest investment of its kind by an OEM in Pakistan’s history. The JV further invested $36 million to introduce the Alsvin in Pakistan and aims to bring in more exciting models by June 2021.
Changan is China’s No.1 domestic automotive brand consecutively for the last 10 years. The company invests 5% of its annual revenues in R&D giving it the best capability in automotive technology this has allowed them to introduce Level 3 Autonomous Driving in China. Changan has a wide range of beautifully designed and high-quality sedans, SUVs, MVPs, LCVs and is well on its way to electrifying all its models by 2022. In their next phase, Master Changan Motors plans to introduce these electric vehicles in Pakistan as well.
