Renault will start to produce vehicles in Pakistan in 2018.
The Board of Investment (BOI) announced on Wednesday.
BOI chairman, told that the French cars company had submitted an application to the government of Pakistan for the manufacturing of vehicles in Pakistan at Karachi sea Port. The application is under process at the Engineering Development Board.
This will be the first European car manufacturer who set up a plant in Pakistan.
Mr Ismail and his other members said that Renault would initially make an investment of $100 millions to manufacture 6,000 vehicles per shift in the plant.
A technical officers team of Renault has visited the plant on Thursday. Renault will plain to manufacture 16,000 vehicles in three shifts and to raise this production to 50,000 in two different phases.
Pakistan finance Minister Ishaq Dar led a delegation to France on September 13 to French car manufacturers, Renault..
Economic Coordination Committee (“ECC”), had constitute a committee to review auto policy , investment, recommend fresh measures for expansion, and consumers protection. Committee was leaded by Water & Power Minister Khawaja M. Asif and a team which included (BIO) Chairman Miftah Ismail.