The Jakarta Post
South Korea-based Hankook Tire, the world’s seventh-largest tire maker, on Thursday started construction of its seventh plant in Lippo Cikarang in Bekasi, West Java, with an estimated investment of US$353 million.
The construction of the plant, to occupy a 42-hectare area, would be part of the company’s program to make Indonesia its regional hub for the growing market in Asia
and a tire manufacturing base for exports to North America and the Middle East, vice chairman and CEO Seung Hwa-suh said Thursday in Cikarang.
Speaking at the plant ground breaking ceremony, Seung said it would initially produce around 6 million tires annually after it commenced operation in 2014, during which it aimed to manufacture 100 million tires globally.
“The plant will open a path for us to raise our status to the world’s fifth-largest tire producer in 2014,” Seung said dur...