Renault plans 40m euro production plant
ISLAMABAD: French Renault has planned to introduce Renault Logan in the Pakistani market by establishing a 40-million-euro assembling plant of Logan cars in the country, with the production capacity of 15,000 automobiles per year.
A French auto business delegation, currently on a visit to Pakistan to explore opportunities to invest in Pakistan, revealed this at a meeting with Dr Abdul Hafeez Shaikh, federal minister for privatisation and investment, on Tuesday, said an official statement.
The delegation comprising Luc-Alexandre Menard, senior vice-president international division Renault, Sylvain Bilaine, designate representative of Renault plant in Pakistan accompanied by Francoise Maylie, deputy head of French Mission to Pakistan, appreciated the economic and investment policies of Pakistan.
They said the planned project would attract 40 million euros’ investment and create 600 job opportunities, which would increase the worldwide production of Logan cars to 1.2 million by the year 2010. The delegates said the French auto giant was interested in creating a pole of excellence, allowing the export of car components from Pakistan to all Renault factories related to that particular type of vehicle.
The Renault officials appreciated the economic and investment policies of Pakistan and said the enhanced relations with India was a new and historic chapter towards progress and stability in the South Asia region.
Earlier, the federal minister briefed the French delegates, saying that Pakistan was trying hard to promote and strengthen its relations with France. He said there was a lot of scope for French business groups to invest in various sectors of the economy, particularly in the automobile industry.
“Our domestic production has increased and we were experiencing a shortage while the companies engaged in the sector were making huge mark-up,” the statement quoted him as saying. staff report
[Daily Times, May 04, 2005]