Kwang Yang's plant in RI

Kwang Yang's plant in RI

TAIPEI (AFP): Kwang Yang Motor Co., a leading motorcycle manufacturer in Taiwan, will invest US$60 million to work with Indonesia's Lippo group in building a plant near Jakarta, the Taiwanese firm said.

A joint venture contract was signed by the chairmen of the two firms on Saturday and the Taiwanese company will have a 60- percent stake in the plant, Kwang Yang said in a statement here.

The new venture is to produce 50,000 motorcycles a year initially, rising to 200,000 units a year eventually, the statement said, adding the plant is expected to begin operating next year.