PakWheels.com was the first to report that Renault is thinking of building its manufacturing plant in Faisalabad instead of Karachi. And now, as per The News, the French automaker has finally decided to set up a manufacturing plant Faisalabad, Punjab.
The company will acquire 54 acres land in the city and will build a manufacturing plant with an investment of US $140 million, said the Chief of Groupe Renault. The cars made in the country will be offered at a competitive price, he assserted.
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It is reported that the reason why the company is moving from Karachi to Faisalabad is that Pakistan Steel Mills (PSM) and National Investment Park (NIP) were not giving any relief to the automaker, rather creating hurdles for it. Moreover, it was also promised to the company that world-class facilities would be given to it; however, it didn’t happen at all, which discouraged the investors as well as Renault.
Renault signed an agreement with Al-Futtaim to manufacture its cars in Pakistan last year in November and at first, as reported, it will launch its SUV Duster; however, till now it has not been confirmed.
Aside from Renault, Hyundai with its local collaborator Nishat Group of Industries is also building a manufacturing plant in Faisalabad.
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