ISLAMABAD: Prime Minister Raja Pervez Ashraf appreciated interest shown by Yamaha Motors Japan to establish a motorcycle manufacturing facility in Karachi costing US$150 million, introducing latest technologies, create jobs and contribute revenue for government.

In meeting with Yamaha Motors delegation Thursday at PM House, Prime Minister said Yamaha is household name in Pakistan. He expressed confidence Yamaha plant will be success story and stir foreign investment. He said every second person in rural Pakistan has a motorcycle and there is huge potential for the motorcycle industry in the country. He assured government will provide all facilities to Yamaha Motors to expand its operations and introduce state of the art technologies.

Ito Yasushi, General Manager Yamaha Japan said on attaining full production, plant will attain production of 45,000 units annually. He spoke of company's intention to further expand its manufacturing units in Pakistan.

With setting up of motorcycle manufacturing facility in Karachi with EFI, automatic transmission, European standard exhaust system, the company will not only be a pioneer in Pakistan but also target Middle East, Central Asia, African markets and will contribute to the country’s exports.

He said that the company plans to initially import CKD Kits and develop local capacity through relationship with local vendors. It plans to achieve indigenization of motorcycle manufacturing to 85 per cent in 10 years which will enable workforce to develop expertise in manufacturing various parts of motorcycles.