Teijin to add $50m to RI investments<\/p>\n
Japan's second largest textile producer Teijin Ltd. plans to
\nincrease investment by US$50 million, compared to its current
\ninvestment of $450 million, in Indonesia over the next three
\nyears to expand its plant's capacity and improve operating
\nefficiency.<\/p>\n
The company's president and chief executive officer, Toru
\nNagashima, said the investment would involve the building of a 30-
\nmegawatt coal-fired power plant in Tangerang, Banten, and the
\nmodification of its production machinery to boost efficiency.<\/p>\n
\"We are striving to make the Indonesian textile and garment
\nindustry more competitive and developed,\" he told the press after
\nmeeting President Susilo Bambang Yudhoyono at the Presidential
\nPalace on Friday.<\/p>\n
Of the $50 million new investment, the company has spent $25
\nmillion thus far, partly on the power plant project. The project
\nis scheduled for completion in December of this year.<\/p>\n
Teijin's Indonesian unit, publicly listed PT Teijin Indonesia
\nFiber Corp. (Tifico), produces 650 tons of polyester chips, 200
\ntons of filament yarn and 350 tons of staple fiber per day.<\/p>\n
Aside from Tifico, Teijin also has three other local units. In
\ntotal, the company employs some 1,500 workers.<\/p>\n
According to the Indonesian Chamber of Commerce and Industry
\n(Kadin), aging machinery -- exacerbated by the banking sector's
\nreluctance to give financial backing -- has become a major
\nproblem facing the local textile industry.<\/p>\n
Despite its image, textiles and clothing remain the country's
\ntop export commodities. -- JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/teijin-to-add-50m-to-ri-investments-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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