BOGOR, Indonesia – PT Indo Kordsa Tbk has inaugurated a $100-million plant designed to produce 18 kiloton for tire cord, and a production capacity of 14 kiloton for polyester yarn in Citeureup in Bogor, Western Java. The facility make Indo Kordsa the second largest producer of fiber raw material suppliers of tire cord, nylon fibers, polyester, rayon and nylon yarns for tires within the Kordsa Global group of Turkey.
Cenk Alper, CEO of Kordsa Global, speaking at a ceremony to inaugurated the facility, said, "Indonesia is a major investment destination that we have chosen rather than other countries. The investment worth US$ 100 million is the largest investment undertaken by the company outside Turkey. With this second plant, our total investment in Indonesia has reached US$ 200 million (approximately Rp 2.5 trillion), while the total production capacity now reaches 105 million tons."
"Since 2007 when investing the first time in the Asia Pacific region, the local and global team strives to provide added value by bringing product standards of the Kordsa Global. Our standard is improving quality, reducing costs and improving service. We have to maintain our presence in an increasingly challenging environment," Mr. Alper told guests, including Saleh Husin, Indonesian Minister of Industry; Guler Sabanci, chairman and managing director of Sabanci Holding of Turkey; Ali Caliskan, vice president operator of Kordsa Global, and Nurhayanti, acting Regent of Bogor.
Nuri Duzgoren, president director of Indo Kordsa, added, "Currently, the exports of PT Indo Kordsa reach $90.67 million or 48% of total sales of $191 million. With additional production capacity, the exports value is expected to increase to $130 million, while the value of sales in domestic market, given the additional supply, is expected to increase from $99.37 million to $141 million."
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