Yamaha to start local manufacturing

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Highlights - Corporate News

Japanese automobile giant Yamaha will formally announce plans to invest $150 million to establish a state-of-the-art motorcycle assembling and manufacturing plant in Pakistan on Thursday, top officials of the company told The News.

“A five-member delegation from Yamaha is scheduled to meet with Finance Minister Saleem H. Mandiviwala to finalise the business plan and the decision will be announced at a press conference in the evening on the same day,” confirmed Board of Investment technical adviser Feroze Shah, who expects the project to be completed in 18 months time.

Yamaha had proposed the establishment of a $150 million motorcycle manufacturing/assembling plant on 50 acres of land at the National Industrial Park in the Bin Qasim industrial area in Karachi in 2009. Company officials say that given the size of the investment, it took a while for the project to materialize. “But we are glad that we are investing in Pakistan,” said the officials.

The company plans to manufacture motorcycles of Euro-II and Euro-III standards at this new plant, which will be exported. Yamaha estimates annual motorcycle production in Pakistan at 1.8 million.

Yamaha says that the project will result in the creation of 45,000 jobs besides effecting transfer of technology. The company also plans to set up training institutes to develop the skills of workers and vendors.

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