- wartajazz.com
VIVAnews - Hankook Tire Co. Ltd will invest US$1.1 billion to build factories in the country.
"We'll be improving investment gradually up until 2018," said Hankook Tire Executive Vice President, Hyun Bum Chuo, in Jakarta, Jan 20.
Hyum Bum said the factories will need around 4,000 local workers.
Chief of the Capital Investment Coordinating Agency, Gita Wirjawan, said the investment will open 100 thousand jobs.
The first phase of investment will require US$353 million aiming at at tire factory in Bekasi, West Java.
The factories will help Hankook transform into the fifth top tire manufacturer worldwide. "Hankook Tire chooses Indonesia as a base for global production," said Hankook Tire Vice Chairman and CEO, Seung Hwa Suh. Hankook figured the tire production will hit 100 million items.
The developer will begin construction by Q3 of 2011 and is expected to complete by September 2014.
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Translated by: Bonardo Maulana W
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