Islamabad, Sept 24 (Dawn) – Samsung Electronics — a South Korean technology giant — is in the process of establishing its TV lineup plant in collaboration with a local partner R&R Industries Pvt Ltd with the goal of producing 50,000 television units per annum.
“I have been informed that Samsung will soon start production of televisions,” Commerce Adviser Razak Dawood said on Wednesday.
This is a vindication of the Ministry of Commerce’s “Make-in-Pakistan” policy for industrialisation via rationalisation of input costs and other incentives. The plant would become functional in the fourth quarter of 2021 and is expected to produce 50,000 units annually, Mr Dawood said.
The facility will produce 50,000 units per annum.
R&R Industries CEO Moosa announced the company’s plans to set up a manufacturing plant for the Samsung TV lineup in Pakistan.
An official announcement by the company said that R&R Industries has signed an agreement with Samsung and intends to set up the plant in Karachi’s Korangi Industrial Area.
R&R Industries has already started the construction and fabrication of the factory plant — which is expected to be inaugurated in the fourth quarter of 2021 — and added a major global brand into the portfolio of local manufacturing in Pakistan.
The local partner company believed that the project will create more than 700 jobs in Pakistan. It is expected that the business revenue of the project will be approximately touch five billion rupees per annum and an annual target of producing 50,000 TV units.
Samsung Electronics, founded in 1969, quickly became a major manufacturer in the Korean Market. This soon expanded to Samsung becoming a leading global brand and has been the World’s one of the leading manufacturer of Televisions for the last 15 years.
It is also worth mentioning that Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Ltd announced in July that it has entered into an agreement with Samsung Gulf Electronics Co., FZE (Samsung) for the production of Samsung’s mobile devices in Pakistan.
The production facility will be located at LMC’s existing plant which is expected to be completed by end December 2021.