Bajaj will set up plant in Indonesia

Bajaj will set up plant in Indonesia

NEW DELHI: Bajaj Auto Ltd. will set up a plant near Jakarta in Indonesia to manufacture three-wheelers, the Economic Times reported, citing Rajiv Bajaj, joint managing director of the company.

The Pune, India-based company plans to sell 3,000 vehicles in Indonesia in the year ending Mar. 31, 2005, the paper said. The plant will begin production in the next fiscal year, the paper reported.

The plant will be set up as a joint venture with Indonesia's PT Abdi Raharja, the report said. Bajaj declined to give details of the stake it will own in the venture and the money it plans to invest, the paper said.

Bajaj Auto expects motorcycle exports in the year to Mar. 31, 2004, to increase 44 percent to 136,000 units compared with 94,241 vehicles a year earlier, the company said in May. --Bloomberg