Recently, we have heard a news that Al-Futtaim Renault Pakistan has acquired industrial land in Faisalabad to build an assembly plant for the manufacturing of vehicles in the country. This is a joint venture of Al-Futtaim a Dubai based company and French Auto manufacturer to build a factory for the manufacturing of Renault cars for the customers of Pakistan.
Colin Cordery Senior Managing Director of Al-Futtaim Automotive said that the company is committed to introduce French made cars in the Pakistan automotive industry. He said that we together with Renault are happy to complete the process of land acquisition, which is indeed a significant milestone for both the companies to make a name for themselves in the Pakistan Automotive Industry. He also said that we strongly believe that this is the optimal location for assembly and manufacturing plant for the company and we are looking forward to work with Faisalabad Industrial Estate Development and Management Company (FIEDMC) to develop a modern assembly plant.
This automotive project will also bring significant foreign investment in Pakistan along with create many indirect and direct job openings. SVP, Chairman of India, Africa and Middle East Region of Renault Fabrice Cambolive said that this land acquisition in Faisalabad for the assembly plant is an important step for the project, which is to bring Renault vehicles in Pakistan. Before this the Al-Futtaim Renault Pakistan was planning to acquire land in Bin Qasim Industrial Park. But due to the prolong delay, both the companies decided to acquire around 54 acres of land in Faisalabad.
The assembly plant will now be officially launched in the last quarter of 2018. There are also expectations that factory will be starting its vehicle production in 2020. Yasser Alvi CEO of Al-Futtaim Renault Pakistan said that the company will be bringing state of the art European technology for the consumers of Pakistan.