ISLAMABAD, Feb 28: Yamaha Motors, a leading Japanese motorbike maker, announced on Thursday establishment of its sales and manufacturing subsidiary in Pakistan with an investment of $150 million to start production from 2015.
Ryoichi Sumioka, Senior Executive Officer of Yamaha told a news conference at the Board of Investment (BoI) that the company has already submitted an application for registration to the Securities and Exchange Commission of Pakistan (SECP).
He said that the state-of-the-art motorcycle assembling and manufacturing plant will spread over 50 acres at the National Industrial Park in Bin Qasim where Euro-II and Euro-III compliance 100cc and above two wheelers will be manufactured.
“We will start the production from 25 per cent localization from first day of production and achieve up to 85 per cent in the next five years,” Mr Sumioka said.
“Our sales and manufacturing subsidiary in Pakistan will be “Yamaha Motor Pakistan Private Limited (YMPK),” he said adding the company strongly believes that Pakistan as “the Next Eleven” will achieve further growth.
Pakistan produces around 1.8 million of bikes per annum.
The plant, he said, would bring the opportunity for two wheelers’ export besides enabling vendors to export their parts as well.