ISLAMABAD – Prime Minister Imran Khan on Friday inaugurated the JW Forland Auto Park vehicle assembly plant, in a major push to the country's automobile industry.

Pakistan's JW SEZ Group, in a joint venture (JV) with China's Changsha Foton Vehicle Technology, has officially launched its production line to make cargo trucks and special purpose vehicles in Pakistan.

JW Forland is the first Pakistani company to produce commercial vehicles in the country.

PM Imran said, “For the first time in Pakistan’s history, a complete car manufacturing plant was being set up and this would create 5,000 jobs which would increase to 35,000 in the future.”

Prime Minister of Pakistan Imran Khan Speech at JW Forland Inauguration of Manufacturing Plant Islamabad (30.11.18) 1/2#PTI #CPEC @ImranKhanPTI pic.twitter.com/8twJ7axMmh — PTI (@PTIofficial) November 30, 2018

The premier also announced to set up technical schools, where technicians will be able to acquire skills. “We will produce cars which can eventually be exported,” Khan added.

The $150 million project has been launched with the ultimate goal to make Pakistan a regional hub for manufacturing auto parts and automobiles, according to Finance Minister Asad Umar.

Prime Minister of Pakistan Imran Khan Speech at JW Forland Inauguration of Manufacturing Plant Islamabad (30.11.18) 2/2#PTI #CPEC @ImranKhanPTI pic.twitter.com/ciq0c2KckO — PTI (@PTIofficial) November 30, 2018

The initial $150m investment has been made at a ratio of 50/50 by both partners and the plant is located in Lahore over 50-acre land while the current plant capacity is 30,000 units.

The Phase-I of the automobile plant includes the production light and medium commercial cargo and dump trucks, minivans, and SUVs.

The company also plans to invest $300 million within the auto sector to enhance the production capacity to 100,000 units per year and increase product range by start assembling buses, heavy trucks, and energy vehicles in coming years.

Earlier this week, Suzuki Motor Corporation had announced to invest $450 million in Pakistan for setting up a second production plant in Karachi.