Samsung Electronics to start operation in Karachi

Image

ISLAMABAD: South Korean technology giant Samsung Electronics has operationalised its first TV line-up plant in collaboration with a local firm in Karachi, Commerce Adviser Razak Dawood announced on Monday.

Taking to Twitter, Mr Dawood shared photos of the facility and tweeted: “We congratulate Samsung Electronics on operationalising its first TV Line-up plant in Pakistan at Karachi in collaboration with R&R Industries. Initially, the unit will produce 50,000 TV sets and increase the capacity to 100,000 units within 2 years.”

Mr Dawood said the collaboration was in line with Make-in-Pakistan policy of the Ministry of Commerce. “I urge all our firms to partner up with leading international companies to set up units in Pakistan,” the adviser further tweeted.

R&R Industries Pvt Ltd had signed an agreement with Samsung to set up a plant in Karachi’s Korangi Industrial Area. The construction and fabrication of the factory has already been completed.

The local partner company believes the collaboration will create more than 700 jobs in Pakistan due to the vast nature of this project.

It is expected that the business revenue of the project will be approximately touch Rs5 billion 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 one of the world’s 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-branded mobile devices in Pakistan. The production facility will be located at LMC’s existing plant which is expected to be completed by end December.

You May Also Like

Image

Pope Francis appealed South Sudan to lay down their weapons of hatred

JUBA: Pope Francis appealed on Sunday to the people of South Sudan to lay down their “weapons of hatred” 

Image

Qatar foreign affairs minister visited Kabul

KABUL: An envoy for Qatar’s foreign affairs minister visited the Afghan capital on Sunday

Image

7.8-magnitude earthquake hit Turkey Syria

TURKEY: A powerful 7.8-magnitude earthquake hit Turkey and Syria on Monday, killing dozens,