Faisalabad: AkzoNobel Pakistan Ltd, a subsidiary of the Dutch paint and coatings giant, inaugurated its new manufacturing plant in Faisalabad, a statement said on Tuesday.
The plant, located in the Allama Iqbal Industrial City, covers an area of 25 acres and has a cumulative investment of Rs8 billion. The plant will produce paint, wood finishes and coatings for various segments, including automotive, specialty, coil and protective coatings, to meet the growing demand in the domestic and export markets, the statement added.
The opening ceremony was attended by the Netherlands’ ambassador to Pakistan, Henny de Vries, and the chairman of Shams Power, Nadeem Babar, along with key AkzoNobel officials. Mubbasher Omar, the chief executive officer of AkzoNobel Pakistan, said the investment in the
greenfield site reaffirmed the company’s commitment to invest and grow in Pakistan, and reflected its confidence in its market position and vision for the future.
“Building on AkzoNobel’s 60-year legacy of delighting paint and coatings customers in Pakistan with world-class solutions, the investment in the greenfield site reaffirms our commitment to invest and grow in Pakistan, with Pakistan."
He said the plant would leverage the company’s global R&D capabilities and expertise to diversify with sustainable innovations and enter new segments in the domestic market, while providing new opportunities to delight customers beyond Pakistan.
The plant also houses a forest spanning an area of 5,450 square feet, planted using the Miyawaki gardening technique of Japan, which is expected to grow into a self-sustaining ecosystem over the next two years, the statement said.