The motorcycle industry of Pakistan sees the return of Yamaha Motors. According to The News Tribe, production of Yamaha motorcycles has recommenced and the company plans to make as many as 400,000 units each year until 2020.
The new factory is a result of an Rs.5.3 billion investment and has a current production capacity of 40,000 units annually. 200 personnel have been recruited for the initial phase. Yamaha Motor Company President Hiroyuki Yanagi was quoted saying, “The new investment from Yamaha will create jobs and bring new technologies. Pakistan is all set to become one of the top global markets of motorcycles.”
President Yanagi was speaking at the inaugural function at Port Qasim Industrial Zone in Karachi and was thankful to the federal government for their assistance in getting the plant up and running. The factory will be administered by Yamaha Motor Pakistan (Pvt) Ltd, which is a brand new subsidiary of Yamaha Motor Company in Japan with full equity from the parent. Yamaha Motor Pakistan has planned a production of 30,000 units this year.
Pakistan Finance Minister Senator Ishaq Dar was also present at the auspicious occasion. According to Pakistan Today, the Yamaha plant comes with a healthy investment of $150 million. Dar was quoted saying, “We welcome the initiative of establishment of Yamaha Motor Cycle plant which has the honour of being first enterprise in Bin Qasim Special Economic Zone.” The 125 cc motorcycles produced by Yamaha Motor Pakistan can also be potentially exported to the Latin American market which will bring in additional export revenue to Pakistan.