Finally some good news coming out of Pakistan !
Japanese motorcycle manufacturer Yamaha, will invest $150 million to establish a manufacturing plant in Pakistan. This was revealed at a meeting by the visiting three-member delegation of Yamaha, who called on the Chairman Board of Investment, Saleem H Mandviwalla on Tuesday.
Mandviwalla later told journalists that Yamaha Japan approached BOI through the commission in Japan with the proposal to manufacture motorcycles in Pakistan. He said that Yamaha will establish their manufacturing facility in National Industrial Park, Bin Qasim, Karachi, by acquiring 50 acre of land.
The motorcycle will have EFI engine, automatic transmission, water cool & environment friendly exhaust system, meeting European standards, in this plant. This will not only meet the demand of Pakistani market but will also enable them to export their models to various Commonwealth of Independent States (CIS) countries.
Mandviwalla said that keeping in view the current fuel and energy situation in Pakistan, Yamaha will produce state of the art motorcycles with less fuel consumption of Rs10 per 30min drive which covers a distance of 40-50km. He stated that President Zardari, during his visit to Japan in February 2011, also met Yamaha officials and ensured that government has framed the rules and procedure for the foreign investors in the auto sector.
The Board of Investment is working to frame a policy that rests on the production of high technology products with environment friendly and consumer satisfying features.
The board, being the facilitator of investments in the country, strongly feels that the New Entrant Policy of automobiles should focus on important international auto manufacturers in Pakistani market and meet the local demand and supply gap of various sectors.
Yamaha Executive Officer Sumioka Ryouichi that the investment in Pakistan will create 45,000 jobs and with the transfer of technology in manufacturing of motorcycle, vendor skill capability and capacity will also be developed with exclusive training institutes being run by the company.
