PakWheels.com reported a few months back that French Automaker Renault is shifting its assembly plant from Karachi, Sindh to Faisalabad, Punjab. And now the Al-Futtaim Renault Pakistan has acquired land in the city for its assembly and manufacturing plant. As per the details, the design and the pre-engineering works are underway and after completion, the manufacturing of the plant will begin. It is expected that work on the plant will start from Q4 of this year.
The company is committed to producing 50,000 units per year. The production of Renault vehicles will start from 2020– meaning local consumers have to wait for another two years to get their hands on Renault vehicles. The company is investing the US $140 million in local industry. The new manufacturing plant will be established at M-3 Industrial City in Special Economic Zone Faisalabad.
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Al-Futtaim Automotive International Senior Managing Director Colin Cordery said,
We, together with Renault, are delighted to have completed the land acquisition, which is an important milestone in the project.
The initiative will bring more foreign direct investment in Pakistan, he further added.
Furthermore, Yasser Alvi, CEO of the Al-Futtaim Renault Pakistan project asserted, “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.”
Renault signed an agreement with Al-Futtaim to manufacture its cars in Pakistan last year in November. The company as per various media reports moved from Karachi to Faisalabad due to bad behaviour of Pakistan Steel Mills (PSM) and National Investment Park (NIP). The authorities were not giving any relief to the automaker, rather creating hurdles. World-class facilities were also promised to the company; however, it didn’t happen at all, which discouraged the investors as well as Renault.
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