Yamaha to invest $150m in Pakistan

[Lahore_Real_Estate]

ISLAMABAD (APP) – Yamaha, a Japanese auto company, would invest $ 150 million to establish manufacturing plant of motorcycles in Pakistan.
This was revealed at a meeting by visiting three-member delegation of Yamaha comprising Sumioka Ryouichi, Executive Officer, ITO Yasushi General Manager and Highuchi Yakeshi Senior Manager who called on Chairman Board of Investment, Saleem H Mandviwalla here on Tuesday.
Later, while talking to the media, the Chairman BOI informed that M/s Yamaha Japan has approached Board of Investment through our mission in Japan with the proposal to manufacture Yamaha Motorcycle in Pakistan. He said that M/s Yamaha would like to invest $ 150 million to establish their manufacturing facility of world renowned motorcycle in National Industrial Park, Bin Qasim, Karachi, by acquiring 50 acres of land. The motorcycle manufacturer will have EFI engine, Automatic Transmission, Water Cool & Environment Friendly Exhaust System meeting European standard in this plant.
"It will not only meet the demand of Pakistani market but will also enable them to export their models to various CIS countries. The Chairman BOI informed that keeping in view the current fuel and energy situation in Pakistan, Yahama will produce the state of the art motorcycles with less fuel consumption of Rs. 10 per 30min drive which covers the distance of 40-50km.
He stated that President of Pakistan during his visit to Japan on February 21-23, 2011 also held meeting with Yamaha officials and ensured that government has framed the rules and procedure for the foreign investors in the auto sector. The BOI is working to frame a policy rest on production of high technology products with environment and consumer satisfying features.