Samsung Electronics, a South Korean technology powerhouse, has opened its first TV line-up plant in Karachi in cooperation with a local business, Commerce Adviser Razak Dawood revealed on Monday.
The development is a significant boost for Pakistan’s electronic sector, as the country strives to encourage additional multinational firms to establish more plants in the country.
“We congratulate Samsung Electronics on the operationalization of its first TV Line-up factory in Pakistan in Karachi in collaboration with R&R Industries,” Dawood tweeted, along with pictures of the building.
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. pic.twitter.com/tLqgT7pWX8
— Abdul Razak Dawood (@razak_dawood) December 6, 2021
In another tweet, he claimed that the project was in accordance with MOC’s ‘Make-in-Pakistan’ initiative. He went on to encourage local businesses to work with multinational enterprises to establish facilities in Pakistan.
R&R Industries PVT Ltd and Samsung have agreed to develop a factory in Karachi’s Korangi Industrial Area. The factory’s construction and fabrication are already finished.
The project’s commercial revenue is estimated to reach Rs5 billion each year, with an annual goal of manufacturing 50,000 TV units. According to the local firm, this collaboration will assist create up to and more than 700 opportunities in Pakistan.
Samsung Electronics, founded in 1969, swiftly rose to prominence in the Korean market. This quickly grew to Samsung being a major worldwide brand and one of the world’s leading television manufacturers for the last 15 years.
In July, Samsung Gulf Electronics Co., FZE (Samsung) entered into a deal with Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Limited, to manufacture Samsung-branded mobile handsets in Pakistan.