Al-Futtaim has announced the acquisition of an industrial plot of land to set-up a brand new automotive plant for the exclusive manufacture/assembly of Renault vehicles in Pakistan.
The world-class facility will be set up at M-3 Industrial City in Faisalabad, which is strategically located in the country and is Pakistan’s largest Special Economic Zone.
“The land acquisition in Faisalabad is an important step in our project with Al-Futtaim Automotive to bring the Renault vehicles to the Pakistani customer.”Fabrice Cambolive, SVP, Chairman of Africa, Middle-East India Region of Renault.
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 Q4-2018.
Once construction work is completed, the state-of-the-art 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.
The next key milestone for the Al-Futtaim Renault Pakistan project will be the establishment of a dealership network across the country, which reflects both Al-Futtaim and Renault brand values.
Al-Futtaim global automotive operations extend to 11 markets across the Middle East, Africa and South Asia, and Pakistan represents one of the most dynamic opportunities in these regions, in particular due to the new Automotive Development Policy.