19 Aug 2010
ERJ staff report (RD)
Jakarta -- Hankook Tire is discussing a $1.2 billion (Euro 9350 million) investment project to build a new tyre manufacturing plant in Indonesia, news reports citing a recent interview with Gita Wirjawan, head of the Indonesia Investment Coordinating Board, have said. Hankook gave no official word on the project, merely repeating its previous comments that Indonesia is one of a number of potential investment sites.
The official said the Indonesian project is based on annual production capacity of 15 million tyres, serving as a supply base for other Asian countries, Europe and America.
According to Wirjawan, the investment board recommended to Hankook that the new plant, which will be completed gradually over several years, be built in Cibitung, an industrial area of Indonesia.
Wirjawan expects negotiations to be finished in 2010 and production to begin in 2012.
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News report and comment from Gita Wirjawan from Bisnis Indonesia
News report from Trading Markets
News report from AFP
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