Nissan to invest more than $200m in Myanmar

A staff stands near the logo of Nissan Motor at the company's showroom in Tokyo Feb 10, 2014. [Photo / Agencies]?

Nissan will invest more than $200 million for an auto factory construction project to be built on 100 acres of land in the Bago Region, said Aye Tun from the United Diamond Motor Company (UDMC).

The e-garage subsidiary of Malaysia-based Tan Chong Group, which is manufacturing and distributing Nissan brands, had launched its service and spare part centres in February last year. The e-garage also appointed UDMC as a sale representative in July last year.

The Myanmar Investment Committee has already granted Nissan Company permission to operate the automobile industry in Bago Region as a cent-per-cent foreign investment.

The Tan Chong Group also operates sales and service centres and automobile assembly factories in Southeast Asian countries, together with Japan's Nissan Motor Group.

Nissan will invest in the Bago Region automobile industry after receiving permission for a 30-year land rental from the Ministry of Industry.

Although it is expected that construction work will be finished in 2015, the project work has yet to begin.

Sales and service centres for the Nissan, Mitsubishi, Suzuki, Ford, Chevrolet, Mercedes Benz, K.I.A and Hyundai motor companies are currently being launched in Myanmar.