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BRIEF-Renault, Al-Futtaim sign agreements to assemble and distribute Renault vehicles in Pakistan
November 20, 2017 / 10:40 AM / in 25 days

BRIEF-Renault, Al-Futtaim sign agreements to assemble and distribute Renault vehicles in Pakistan

Nov 20 (Reuters) - Renault:

* Groupe Renault and Al-Futtaim sign definitive agreements dedicated to the exclusive assembly and distribution of Renault vehicles in Pakistan

* Renault says deal signifies its entrance into Pakistan, which it describes as a fast-growing market with 10 pct annual growth rate

* Assembly will be done in a brand new state-of-the-art plant in Karachi

* Parties expect the plant will be built starting the first quarter of 2018 in Karachi as per Groupe Renault standards, and car sales are planned to start in 2019, ramping up in 2020

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