Al-Futtaim Renault Pakistan has acquired an industrial land in Faisalabad to set up the assembly plant to manufacture vehicles in the country. It is a joint venture between Dubai based Al-Futtaim and French-based Renault to set up a factory and assemble car for customers in Pakistan.
Al-Futtaim Automotive International Senior Managing Director Colin Cordery said, “Al-Futtaim is fully committed to the Pakistani market and to this project. We, together with Renault, are delighted to have completed the land acquisition, which is an important milestone in the project.”
Adding, “We believe this to be the optimal location for the manufacturing and assembly plant, and look forward to working with Faisalabad Industrial Estate Development and Management Company (FIEDMC) to develop a world-class and modern factory. This project will bring significant foreign direct investment to Pakistan, and also create many direct and indirect jobs.”
Fabrice Cambolive, SVP, Chairman of Africa, Middle East and India Region of Renault said, “The land acquisition in Faisalabad is an important step in our project with Al-Futtaim Automotive to bring Renault vehicles to the Pakistani customer.”
Adding, “We look forward to the continuation of the constructive cooperation with Faisalabad Industrial Estate Development and Management Company and the federal, provincial and local governments in Pakistan to achieve our goal to establish Renault brand in Pakistan.”
Before this Al-Futtaim Renault Pakistan was planning to acquire land in Bin Qasim Industrial Park. But due to long delays, the companies decided to acquire 54 acres of land in Faisalabad. Now formally the construction factory will be launched in last quarter of 2018. It is expected that the factory will start vehicle production in 2020.
Chief executive officer of the Al-Futtaim Renault Pakistan project Yasser Alvi said, “We will bring cutting-edge and leading European technology to the Pakistani consumers through a modern distribution and dealership network with a focus on engaging customers through unique and memorable experiences and great service. We want to add value to the brand and provide Pakistani consumers with a dynamic and vibrant product offering, tailored to local needs.”