Hankook to win permit for Indonesian factory this year - report

ERJ staff report (DS)

Jakarta - Reuters is reporting that an Indonesian Government minister has announced an investment of $1200 million (euro 860 million) by Hankook in Indonesia. Hankook had not responded to requests for clarification as we went to press.

According to Reuters, Hankook Tire will invest $1.2 billion in the tyre industry in Indonesia. The money will buy a large plant to make truck tyres and earthmover tyres using Indonesian natural rubber.

The Agency quoted Indonesian industry minister MS Hidayat saying Indonesia will issue the firm a permit in December, leading to groundbreaking for a manufacturing plant by the end of next year

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Hankook to invest $1.2 bln in tyres in Indonesia from Reuters