Startup wins a bid worth $20m to install vending machines across Pakistan

A local startup company by the name of TechnoSync Solutions, won a project worth $20 million of International Brands (Pvt.) Limited (IBL) operations to establish a network of vending machines across Pakistan.

This project includes the installation of 5,000 vending machines at various universities, hospitals, organizations and other public points across Pakistan.

TehnoSync Solutions is a company which was started by an alumnus of Institute of Business Administration (IBA), Karachi, named Fawwad Haider. Till now, Haider’s company was operation from AMAN, which is a Center for Entrepreneurial Development at IBA. However, now the aspiring businessman plans on moving his office to a proper functioning place.

A Memorandum-of-Understanding (MoU) signing between the parties took place at AMAN and it was attended by the Acting Dead & Director of IBA, Dr. Sayeed Ghani. Also present at the occasion was Director and General Manager of IBL, Asad Abdullah.

These machines will carry items such as snacks, beverages and even medicines. The project will cover almost all the 66 cities where IBL already operates. The vending machines may also offer product lines other than the ones made, marketed and distributed by IBL.

Currently, IBL is marketing and distributing products of more than two dozen companies. The vending machines will be imported from Russia, and it will take around five years for both these companies to culminate this project.

The installation of these vending machines will change the landscape of retailing business in Pakistan. This move will also facilitate the end user to buy products from machines located at convenient locations.

Short URL: https://www.newspakistan.pk/?p=52765

Posted by fatimaarshad on Apr 25 2016. Filed under Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.