Al-Futtaim Renault Pakistan announced the acquisition of an industrial plot to set-up an automotive plant for the manufacture and assembly of Renault vehicles in Pakistan.The facility will be set up at M-3 Industrial City in Special Economic Zone Faisalabad.
“Al-Futtaim is fully committed to the Pakistani market and to this project,” said Colin Cordery, Senior Managing Director of Al-Futtaim Automotive International.
“This project will bring significant Foreign Direct Investment to Pakistan, and also create many direct and indirect jobs,” he added. The design and pre-engineering work of the project is well underway, and on-site activities will commence shortly. The formal launch of the facility construction will be in the fourth quarter of 2018.
Plant Starts Production
Once construction work is completed, the assembly plant will have a total installed capacity of over 50,000 units per annum. Al-Futtaim and Renault expect that the factory will commence production in 2020.
“Renault is renowned for the safety and quality of its cars. We will bring cutting-edge and leading European technology to the Pakistani consumer through a modern distribution and dealership network,” commented Yasser Alvi, CEO of the Al-Futtaim Renault Pakistan project.