The Jakarta Post
Toyota Motor Corporation will invest an additional Rp 5.5 trillion (US$638 million) in Indonesia to build a new plant and expand distribution networks in the country, a minister says.
Industry Minister M.S. Hidayat said on Tuesday that the plant would be located in Karawang, West Java, and require a Rp 2.9 trillion investment, Rp 1.7 trillion of which was announced earlier this year.
The plant will produce around 70,000 vehicles a year when complete. This will increase the annual production of PT Toyota Motor Manufacturing Indonesia (TMMIN) — Toyota’s joint venture with local partner Astra International — from 110,000 to 180,000 units.
“Toyota will also spend another Rp 2.6 trillion to expand its sales outlets throughout the country,” Hidayat said after meeting with Vice President Boediono and Toyota president director Akio Toyoda.
Toyoda met Pre...