Investing with Renault Ghandhara Nissan says partnership will attract $100m

KARACHI: Following the announcement made by the Board of Investment (BoI) on Thursday, Ghandhara Nissan Limited confirmed that its partnership with Renault - the French carmaker - will attract an investment of around $100 million, including an approximately 60% of foreign investment component, according to a company notice sent to Pakistan Stock Exchange (PSX).

The announcement of BoI and the company’s notice to the bourse on Friday helped the company’s share price jump 5% when it closed at Rs289.48 from Rs275.7 a day earlier. The KSE 100-Index closed at 41,841, down 132 points or 0.32%.

BoI on Thursday said that the French carmaker has decided to invest in Pakistan and will start assembling cars by 2018. The notice said that the company will produce the vehicles at its existing assembly plant.

Published in The Express Tribune, November 5^th, 2016.

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