KARACHI, May 2: The largest Australian lighting company, Pierlite, will invest $20 million by launching a joint venture company under the name of Pierlite Pakistan, says a press release issued here on Friday.

Addressing at a formal launching ceremony at a local hotel, Australian High Commissioner Ms Zorica McCarthy said that the state of the art production facility will open new employment opportunities in the country.

She said: “Current development in Pakistan and construction boom in neighboring Middle Eastern countries will surely provide an opportunity to Pierlite to grow business in this part of the world”.

Pierlite Pakistan Director Pervez H. Madrasawala said the company was currently expanding its sales and distribution facilities throughout the country.