AkzoNobel Pakistan Ltd, a leading global manufacturer of paints and coatings, announced the construction of a new manufacturing plant in Pakistan.
The integrated paints and coatings plant will be located at the Allama Iqbal Industrial City in Faisalabad, Pakistan. The facility will span 25 acres and is scheduled to start operations in 2023.
With agile manufacturing, the new manufacturing plant shall allow AkzoNobel to be more competitive in the market. Designed to deliver a planned year-on-year expansion in production volumes over the next five years, this shall support AkzoNobel Pakistan Ltd. in realizing its growth ambitions for Pakistan with more speed.
“Under our global mid-term business strategy, AkzoNobel is committed to grow in Pakistan. Since 2020, AkzoNobel has been consolidating its position in the Pakistan market with the ongoing share buy-back of USD 16 mn (PKR 2.75 bn) via Foreign Direct Investment. The new manufacturing facility at Faisalabad is the next step to grow on our strong foundation.