Al Futtaim had acquired an industrial plot at M-3 Industrial City in Faisalabad to setup Renault Automotive Plant. Earlier the Renault Group and Al Futtaim have signed an agreement for exclusive distribution and assembling of Renault Cars.
Initially, both companies decided to establish their plant in Port Qasim Karachi. However, the delay occurred due to the management of National Investment Park (NIP), which forced them to shift their plant to Faisalabad. According to the group, the plant will be fully operational by 2020 with a production capacity of 50,000 units per annum. The various options in the automobile industry will help the Pakistani consumer to decide the best possible choice.
Similarly Hyundai Korean Conglomerate had also planned to establish their plant in BQIP (Bin Qasim Investment Plant) but the hurdles in bureaucracy forced the group to shift their plant to Faisalabad.