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Thailand Aims To Become Export Hub For Large Cycles[/FONT]
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MILAN, July 30 (Bernama) -- After clinching a deal in which Triumph Motorcycles decided to invest another Bt3.5 billion in Thailand, the kingdom now aims to become a production and export hub for large-sized motorcycles, said Kosit Panpiemras, Deputy Prime Minister and Industry Minister.[/FONT]
[FONT=Verdana, Arial, Helvetica]Kosit has just concluded five-day visits to Britain and Italy, which began July 25, according to TNA report.[/FONT]
[FONT=Verdana, Arial, Helvetica]In Britain he met Triumph Motorcyles president John Bloor, who agreed to invest an additional Bt3.5 billion in 2008 in Thailand operations for manufacturing parts for large-sized motorcycles.[/FONT]
[FONT=Verdana, Arial, Helvetica]At present, the company has a plant in Thailand's eastern seaboard province of Rayong.[/FONT]
[FONT=Verdana, Arial, Helvetica]With the additional investment, the company plans to assemble about 50,000 large-sized motorcycles annually.[/FONT]
[FONT=Verdana, Arial, Helvetica]Kosit said he had ordered Satit Chanjavanakul, secretary general of the state-run Board of Investment, to map out plans on promoting investment for large-sized motorcycles with the engine capacity from 500 cc upwards which have a global demand of over 100,000 units annually.[/FONT]
[FONT=Verdana, Arial, Helvetica]Besides Triumph Motorcycles, two or three major large-sized motorcycle producers may also invest in Thailand, Kosit said, adding that he expected the investment promotional plan would be completed soon.[/FONT]
[FONT=Verdana, Arial, Helvetica]Kosit said he had also held talks with Giorgio Garimberti, operations chief of VM Mortori, Italy's major diesel engine manufacturer, who said that his company was keen to set up a factory in Thailand in 2008, with production starting in the following year. The investment by VM Mortori is around Bt450-900 million.[/FONT]
[FONT=Verdana, Arial, Helvetica]-- BERNAMA[/FONT]