KARACHI: Sindh Chief Minister Qaim Ali Shah has welcomed an investment, which could be up to $150 million, by Yamaha, a Japanese company, for the establishment of a manufacturing plant in Karachi.

The plant will provide employment opportunities to 25,000 engineers, technicians and labour in Karachi. The chief minister (CM) said while speaking to the country director of the Japan External Trade Organisation (JETRO) Kaoru Shiaishi who called on him along with his research analyst Saadia Manzoor at the CM house.

“The transfer of automobile and electronic technology from Japan to Sindh will prove to be an instrumental source for the development and prosperity in the province,” he said.

He highlighted the importance of economic development and offered full administrative support to Japanese companies.

Addressing the delegation, the chief minister said that 2,000 acres of land has been earmarked by the government for the establishment of the Japan Special Economic Zone along with National Highways in Karachi, where all necessary infrastructural facilities would be provided to Japanese companies for their investment.

In addition, the Sindh government has recommended the Federal Board of Investment, through a summary, for declaring the National Industrial Park (NIP) at Bin-Qasim a ‘Special Economic Zone’ to facilitate the Japanese Company for the setting up of the Yamaha manufacturing plant.