A leading French car making company Renault and Al-Futtaim Group will set up a new state of the art car plant in Karachi.

An agreement in this regard was signed in Paris.

According to a press release issued by the company, the car sales are expected to commence in 2019.

Under the agreement, the Renault Group would bring its latest products and Al-Futtaim will establish a new manufacturing and assembly plant.

The Ambassador of Pakistan to France Moin ul Haque welcoming the agreement said it is an acknowledgement of Pakistan’s growing economic strength and conducive investment environment.