French automaker Renault SA said June 12 that United Arab Emirates-based conglomerate Al-Futtaim Group acquired a plot of land in Pakistan that will serve as the site of a jointly developed car manufacturing plant.

The facility planned by Renault and Al-Futtaim's automotive division will be at M-3 Industrial City in Faisalabad, Pakistan, with construction scheduled to start in the fourth quarter.

The plant is expected to become operational in 2020 and have the capacity to produce 50,000 Renault vehicles per year.

The partnership between Al-Futtaim and Renault in Pakistan will also extend to setting up a dealership network in the country.