Lahore: Japan’s Nippon Group announced to set up a lithium battery assembly plant in Punjab in the first phase and then to upgrade that plant into a manufacturing facility in the second phase.
In this regard, a meeting in Lahore where Provincial Minister for Industries and Commerce Chaudhry Shafie Hussain met with Japan’s Nippon Group CEO Machiteque Yamamoto.
The meeting held a detailed discussions on investment opportunities in Punjab at Peace House, Lahore.
“Our group requires 2 acres of land to set up a lithium battery assembly and manufacturing plant”, says the CEO of Nippon Group.
“We will manufacture lithium batteries here and supply them to the local market and also export them to other countries”, added the Nippon Group CEO.
Provincial Minister for Industries and Commerce Chaudhry Shafie Hussain assures all possible cooperation to Japan’s Nippon Group on investment in Punjab.
There is an excellent time and favorable environment for investment in various sectors of Punjab, said the Provincial Minister for Industries and Commerce Chaudhry Shafie Hussain
Japan’s Nippon Group to set up a lithium battery manufacturing plant, with all possible cooperation would be extended for any possible needed facilitates for the plant.
The meeting also discussed, that there is a vast investment potential in Punjab’s electric vehicles sector.
The Minister also urged the Japan’s Nippon Group who can also invest in the EV sector in Punjab and ultimately other parts of Pakistan.
The Minister also asked that the Japanese investors should also consider setting up an EV charging assembling, repair set up kind of plants in Punjab.
The minister also said that the promotion of the electric vehicles sector is the first priority of the Punjab government.
The Minister explaining other investment facilities told the delegation of the Japan’s Nippon Group that they should also consider setting up an AI software house in Punjab.
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The Minister also said that foreign investors can enjoy extraordinary incentives in Punjab’s special economic zones.
He said that there is a 10-year income tax exemption on investment here and a one-time duty-free machinery import facility.
Domestic and foreign investors are giving priority to Punjab for investment.
Japanese investors should invest openly in Punjab, the government will provide their full support, said the Chaudhry Shafi Hussain.
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DG Punjab Board of Investment Dr Sohail Ahmed, CEO PEDMC and others were also present in the meeting.
