By Atiya Riffat
Al-Futtaim Renault Pakistan on Tuesday declared the obtaining of a industrial plot to set-up a car plant for the produce and gathering of Renault vehicles in Pakistan.
The facility will be set up at M-3 Industrial City in Special Economic Zone Faisalabad.
“Al-Futtaim is completely dedicated to the Pakistani market and to this project,” said Colin Cordery, Senior Managing Director of Al-Futtaim Automotive International.
“This venture will convey noteworthy Foreign Direct Investment to Pakistan, and furthermore make numerous immediate and circuitous jobs,” he included.
The outline and pre-engineering work of the venture is well in progress, and on location activities will start in a matter of seconds. The formal dispatch of the facility construction will be in the final quarter of 2018.
When development work is finished, the assembly plant will have an aggregate introduced limit of more than 50,000 units for each annum. Al-Futtaim and Renault expect that the plant will begin production in 2020.
“Renault is famous for the wellbeing and nature of its cars. We will bring front line and driving European innovation to the Pakistani purchaser through an advanced circulation and dealership network,” remarked Yasser Alvi, CEO of the Al-Futtaim Renault Pakistan venture.