Al-Futtaim has completed the acquisition of an industrial plot of land to establish a new factory in Pakistan for the exclusive manufacture/assembly of Renault vehicles. The modern manufacturing plant will be set up at the M-3 Industrial City in Faisalabad. The city has a strategic location and is located in Pakistan’s largest Special Economic Zone.
Commenting on the establishment of the new plant Colin Cordery, Senior Managing Director of Al-Futtaim Automotive International said that Al-Futtaim is fully committed to the Pakistani market and to the project. The company collaborated closely with Groupe Renault to acquire the land and the completion of the process marks a significant milestone.
Cordery added, “We believe this to be the optimal location for the manufacturing and assembly plant, and look forward to working with Faisalabad Industrial Estate Development & Management Company (FIEDMC) to develop a world-class and modern factory here. 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 India Region of Renault said that the land acquisition in Faisalabad was an important step in the joint project with Al-Futtaim Automotive to bring Renault vehicles to the Pakistani customer. He went on to say that Renault looked forward to working with Faisalabad Industrial Estate Development & Management Company (FIEDMC) and the federal, provincial and local governments in Pakistan to achieve its goal of establishing the Renault brand in Pakistan.
The design and pre-engineering work of the factory is already underway, and on-site activities are expected to commence shortly. The construction of the facility is slated to be formally launched in Q4-2018. The completely modern plant which will be equipped with state-of-the-art technology will have the capacity to assemble 50,000 vehicles every year. The factory is scheduled to become operational in 2020.
The next step for Al-Futtaim Renault Pakistan is to set up dealership network which will cover the entire country and will reflect the brand values of both Renault and Al-Futtaim.
Yasser Alvi, CEO of the Al-Futtaim Renault Pakistan project said that Renault is known for the quality and safety of the vehicles it manufactures and the company plans to bring the very same expertise and technology to Pakistan. The company will use a modern distribution and dealership network which will be highly customer oriented to provide customers with access to unique and memorable experiences, great service and cutting-edge and leading European technology.
Alvi concluded, “We want to add value to the brand and provide Pakistani consumers with a dynamic and vibrant product offering, tailored to local needs.”
Al-Futtaim has over the past 60 years, built up a formidable reputation for strength and credibility by delivering great customer experiences through several businesses and operates across 29 countries. Al-Futtaim’s global automotive operations cover 11 markets spread across the Middle East, Africa and South Asia, and with its new Automotive Development Policy in place, Pakistan offers great potential for further development.
Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.
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