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January 27, 2008

INDONESIA/AUTOMOTIVE INDUSTRY
Hyundai to invest $40mn in truck plant
South Korean auto-maker Hyundai Motor Co. plans to invest 40 million U.S. dollars in its truck and bus assembly plant in Indonesia, local press said Friday.

The investment will go to local subsidiary PT Korindo Heavy Industry which manufactures bus and truck chassis with a capacity of 10,000 truck chassis and 1,500 bus chassis a year.

The company, now employs some 600 workers, will increase the local content from 20 percent to 40 percent, reported leading newswebsite Detikcom, quoting a statement from Korindo.

Hyundai has sold 1,132 buses since its debut in the Indonesian heavy vehicle market in June 2007.

Courtesy Xinhua

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