The government has approved foreign investment to conduct assembly planning of four wheeler in Nepal. The meeting of the Board of Investment, which was held on Friday, has approved the investment of 10 billion rupees to bring Korean company Motrax to manufacture four wheeler in Nepal.
The Korean company had proposed the proposal to construct ‘Vegetable Assembling Plant’ by spending 10 billion 54 million rupees. Chief Executive Officer, Maha Prasad Adhikari, informed that the meeting of the Board meeting held in the prime minister’s office on Friday evening decided to accept this investment.
Earlier, the Hulas Motors of Golchha group had assembled the four wheeler. Production of vehicles from the company has already stopped. This vehicle was used by the former Prime Minister Baburam Bhattarai, the vehicle of Mustang brand, which was made by the Huas Motors of Golcha group company.
Earlier, the company had incorporated the vehicle named ‘Sherpa’ in Nepal. However, the company closed down after the government did not ask for a year to prepare for the Euro 3 criteria.
In Nepal, some of Bajaj’s bikes have been assembled under the leadership of Golchha group.