Taiwanese Cheng Shin Rubber Industry Company, one of the country’s leading tyre suppliers, have announced they will invest US$300million in constructing a plant in Indonesia.
The construction is scheduled to commence early next year, with operations expected to begin production towards the end of the same year. The company is to target the Indonesian domestic market rather than exports, as revealed by the Cheng Shin President during a yearly general meeting for share holders.
The automotive market of Indonesia is said to be rapidly growing, encouraging Cheng Shin's clients to request towards the Taiwanese supplier to establish local production lines.
It was informed that the company's shareholders with Cheng Shin, plans to use the Indonesian market as a springboard to enter other Muslim markets.
A fund raising campaign is also to aid for the Indonesia investment.
When the Indonesia factory becomes operational, there are plans for a wider global production base in Asia, including plants in China, Taiwan, Thailand, and Vietnam.
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