Japanese automaker Suzuki Motor Corp. plans to build a factory in Myanmar that will produce 20,000 to 30,000 cars a year and push development of one of the world's largest industrial complexes, sources said.

Suzuki is expected to invest several billion yen in the assembly plant, which is tentatively scheduled for completion by 2015, the sources said on Oct. 8.

Companies around the world are looking to invest in Myanmar to cash in on the country's expected high economic growth in the coming years. Suzuki's plant will become one of the largest production centers in Myanmar among foreign manufacturers.

According to the sources, Suzuki plans to build the plant on 40 hectares in the suburban Thilawa district of Yangon, Myanmar's largest city, and will establish a wholly-owned subsidiary in the country. In the initial years, the plant will manufacture several thousand cars a year.