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

According to a press release issued by the company, an agreement in this regard was signed in Paris, Radio Pakistan reported. 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.

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