Renault Enters Agreement With Al-Futtaim for Manufacturing Plant in Pakistan
20 Novembre 2017 - 12:31PM
Dow Jones News
By Anthony Shevlin
Renault S.A. (RNO.FR) said Monday that it has signed an
agreement with Al-Futtaim Group, whose subsidiary in Pakistan will
assemble and distribute Renault vehicles in the country.
The French manufacturer said the assembly will be done in a new
plant in Karachi, as it enters the Pakistan market for the first
time. Construction of the plant will begin in the first quarter of
2018, and car sales are planned to start in 2019.
Al-Futtaim, which is a Dubai-based company, said that the plant
will be established by its new subsidiary Al-Futtaim Automotive
Pakistan Ltd.
The price of the investment has not been revealed.
The finalization of the transaction remains subject to a number
of conditions, mainly relating to relevant regulatory approvals
from Pakistani authorities.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
November 20, 2017 06:16 ET (11:16 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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