Financial Consortium Secures Milestone PKR 4.76 Billion Financing Facility for Tech Manufacturing Expansion

A high-profile financial consortium led by The Bank of Punjab, alongside InfraZamin Pakistan Limited, has officially achieved the successful financial close of a PKR 4.76 billion Islamic Syndicated Term Finance Facility for Air Link Communication Limited and its wholly owned subsidiary, Select Technologies Limited. The ten-year facility marks an unprecedented timeline for corporate industrial financing in the country. The transactional syndicate includes prominent financial institutions serving as Mandated Lead Advisors and Arrangers, specifically Askari Bank Limited, The Bank of Punjab, BankIslami Pakistan Limited, and Pak China Investment Company Limited. A critical element enabling this extensive financing tenor is a comprehensive credit guarantee of PKR 3.57 billion provided by InfraZamin Pakistan Limited, which significantly enhanced the overall credit profile of the transaction and optimized its commercial pricing structure.

The newly secured capital is designated to fund the development and deployment of state-of-the-art manufacturing infrastructure situated within the Sundar Green Special Economic Zone. Through this capital deployment, both Air Link Communication and Select Technologies intend to substantially scale up their domestic production capabilities for smartphones, consumer electronics, and modern home appliances. This industrial expansion directly advances the national macroeconomic agenda focused on aggressive industrialization and import substitution, minimizing dependence on foreign goods while driving tech localization. As part of the infrastructure expansion, the project will also incorporate a 1 MW solar power plant aimed at shifting the manufacturing facilities toward a climate-friendly energy mix. The solar installation is projected to curb carbon emissions by roughly 700 tonnes every year, allowing the companies to effectively lower operational expenses while practicing sustainable manufacturing.

From a socio-economic standpoint, the scaled manufacturing ecosystem is forecasted to yield significant societal benefits over the next several years. The upgraded facilities are projected to manufacture more than one million affordable smartphones on an annual basis, which will drastically improve nationwide digital access and mobile internet connectivity for the public. Furthermore, the industrial project expects to generate roughly 450 direct employment positions within five years following the construction phase. Notably, the companies have committed to reserving 25 percent to 30 percent of these upcoming jobs specifically for women, creating a structural pathway to elevate female workforce participation in the domestic technology manufacturing sector.

Air Link Communication Limited remains a dominant corporate force in the national technology landscape, managing distribution, retail network operations, and local assembly for top-tier global device brands like Samsung, Apple, Xiaomi, Techno, Itel, Acer, and iMiki. Select Technologies Limited specializes heavily in the domestic assembly lines of global hardware, having already secured manufacturing partnerships with Xiaomi and Hisense to produce LED televisions, smartphones, and air conditioners. This substantial syndicated transaction arrives closely on the heels of a successful Initial Public Offering by Select Technologies, emphasizing robust investor and institutional confidence in the scalability of domestic consumer electronics manufacturing. Representatives from the participating financial entities and corporate leadership highlighted that the transaction establishes a critical precedent for using blended finance structures and risk-sharing mechanisms to unlock private capital for strategic, long-term industrial investments in the country.

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