Jakarta (ANTARA News) - PT Toyota Motor Corp plans to expand its business in Indonesia with an investment of US$385 million in production means.
President Susilo Bambang Yudhoyono welcomed the plan here on Tuesday saying "I welcome it as more Indonesian people would be able to work to increase their income."
He made the statement when receiving the president director of Toyota Motor Corp, Akio Toyoda.
President Yudhyono said Toyota is an important friend and partner of Indonesia and has contributed to the development of the country`s economy.
He also said he believed Japan would revive again after experiencing a tsunami disaster in March and a global financial crisis.
Akio Toyoda expressed Toyota Motor Corp`s readiness to expand in Indonesia earlier to Vice President Boediono.
Boediono`s spokesman Yopie Hidayat said the arrival of the president director of PT Toyota Motor Corp was for two things namely in connection with the company`s 40th anniversary in Indonesia and its plan to conduct expansion in the country.
Yopie said Akio told the vice president Toyota would expand its production facilities with an investment of US$385 million to increase capacity from 110,000 cars a year to 200,000.
He said the investment would also create jobs for around 7,000 people.
He said besides increasing production Toyota also plans to expand its distribution network to strengthen its market. For that it will invest Rp2.9 trillion and the project will also create jobs for around 7,000 people.
He said the investment in plant expansion would also increase demand for suppliers and this will also create jobs for around 1,000 people. "So, totally there will be jobs for 15.000 workers," he said.