ISLAMABAD: In cooperation with the local partner R&R Industries Pvt Ltd., Samsung Electronics — a South Korean technological powerhouse — is setting up the TV line-up factory in order to produce 50,000 television sets a year.
“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.
Moosa, CEO of R&R Industries, revealed its proposal for the establishment of a production factory in Pakistan for the Samsung TV line-up.
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The company’s official statement claimed that R&R Industries has entered into a deal with Samsung to build up the Karachi Industrial Area factory.
In the fourth quarter of 2021, R&R industries already began building and manufacture of the plant and has added a leading worldwide brand to the local manufacturing portfolio in Pakistan.
The local partner firm was certain that more than 700 employment will be created in Pakistan. The project is projected to generate around five billion rupees per year in business revenues and to produce 50,000 television sets per year.
Founded in 1969, Samsung Electronics soon grew to become an important Korean market producer. This extended quickly to Samsung, which is one of the world’s major television manufacturers during the past 15 years.
It is worth mentioning as well, that in July, a subsidiary of Lucky Cement Ltd Lucky Motor Corporation (LMC) stated that it has entered into a deal for the manufacturing of Samsung’s mobile devices in Pakistan with Samsung Gulf Electronics Co., the FZE (Samsung).
The production facility will be located at LMC’s existing plant which is expected to be completed by end December 2021.