KARACHI, Feb 22: General Tyre (GT) will invest Rs500 million in motorcycle tyre production and plant enhancement in Pakistan.

Chief Executive General Tyre Shahid Hussain announced this on the launching ceremony of motorcycle tyres at a press conference on Friday.

He said that high quality six ply motorcycle tyres will meet the expectations of motorcycle users in the country.

“The company has phased this project in two parts. The first phase will help us get into the big motorcycle replacement market and in the next phase we will approach selected top assembly plants to be one of their reliable suppliers,” he added.

Representative of Continental AG Dr W Flamm said that Continental AG has a long term association with General Tyre and it will continue to support it.

According to a press release, Chairman GT Lt Gen (retd) Ali Kuli Khan Khattak said: “Had General Tyre not existed, the government of Pakistan would have had to spend more than $200 million annually on the import of equivalent number of tyres produced by this company alone.”