More news Thailand aims to become export hub for large cycles
MILAN, July 30, 2007 (TNA) -- 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.
Mr. Kosit has just concluded five-day visits to Britain and Italy, which began July 25.
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.
At present, the company has a plant in Thailand's eastern seaboard province of Rayong.
With the additional investment, the company plans to assemble about 50,000 large-sized motorcycles annually.
Mr. 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.
Besides Triumph Motorcycles, two or three major large-sized motorcycle producers may also invest in Thailand, Mr. Kosit said, adding that he expected the investment promotional plan would be completed soon.
Mr. 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. (TNA)-E111
