Sazgar to Buy Land Worth Rs. 1.5 Billion for Future Expansion

The Board of Directors of Sazgar Engineering Works Limited (PSX: SAZEW) in their meeting held today i.e. November 14, 2024, approved to purchase a piece of land measuring nearly 140 kanals. The land is worth approximately Rs. 1,540.00 million (subject to actual measurement of land) adjacent to the four-wheeler project to meet future business requirements. The Chief Executive of the Company has been authorized to negotiate and finalize the terms and conditions and to fulfill all the legal formalities to complete the said purchase of land. SAZEW is engaged in the manufacture and sale of automobiles, automotive parts, and household electric appliances. At the time of filing, the company’s scrip at the bourse was Rs. 1,086, up 0.76 percent or Rs. 8.15 with over 990,000 shares on Thursday.