In a few investment related developments in Myanmar, Nissan Motor said it would assemble 10,000 units annually in the frontier market while the first cable car in the country is proposed to be built at an estimated cost of $12 million.
Nissan to invest $50m on car assembly
Nissan has been present in Myanmar since 2013, and has imported sport utility vehicles and pickup trucks from Japan, Thailand, among others.
Nissan started selling their ‘Sunny’ mainstay sedan in January after assembling in Myanmar. Plans ahead include setting up a new plant in Bago region which will be ready for the opening in 2019.
“We will introduce Nissan’s green and safety technologies to the market with great potential,” said Yutaka Sanada, regional senior vice president of Nissan’s Asia and Oceania operations.
In other auto sector developments in Myanmar, Ford, Lisan, Toyota and Suzuki are also operating in the country with plans to roll out their vehicles soon. Myanmar Motor Corp is also investing $10 million for assembling buses.
Myanmar cable car project to cost $12m
Myanmar’s first cable car at Zwekabin Mountain in Kayin State will begin construction in February at an investment of $12 million.
Zweabin Myay Development Company is founded and managed by Zwekabin Temple monk, U Kawi Daza, and Chit Lin Myaing Toyota Company is chaired by Colonel Saw Chit Thu, senior advisor and general secretary of the Karen State Border Guard Force’s central command.
Chit Lin Myaing Company will take 75 per cent stake in the project and will be responsible for the installation costs. Zwekabin Myay Development Company will take 25 per cent stake and be responsible for providing for the land for the project.