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JAKARTA (rambuenergy.com) – PT Indo Kordsa Tbk has begun operating its new tire plant with total investment of approximately US$ 100 million with production capacity of 18 kiloton for tire cord, and a production capacity of 14 kiloton for polyester yarn. The new tire plant is located in Citeureup
PT Indo Kordsa Tbk, whose majority shares are controlled by Kordsa Global of Turkey, has now become the second largest tire producer within the Kordsa Global in the category of companies engaged in the field of fiber raw material suppliers of tires, nylon fibers, polyester, rayon and nylon yarns for tires.
The new plant was inaugurated by the Minister of Industry of the Republic of Indonesia, Saleh Husin on Jan. 6, and was attended by Güler Sabancı – Chairman and Managing Director of Sabancı Holding of Turkey, Cenk Alper – CEO of Kordsa Global, Ali Caliskan – Vice President Operator of Kordsa Global, Nuri Refik Düzgören – President Director of PT Indo Kordsa Tbk, and Nurhayanti – (Acting) Regent of Bogor.
Cenk Alper said so far Kordsa’s investment in Indonesia has reached US$ 200 million (approximately Rp 2.5 trillion), while the total production capacity now reaches 105 million tons.
President Director of PT Indo Kordsa Tbk, Nuri Duzgoren said the second factory covers an area of 24,000 hectares with production capacity of 18 kilotons of tire cord and 14 kilotons of polyester yarn. The new plant is also able to absorb 1,200 workers.
Currently, the exports of PT Indo Kordsa reach US$ 90.67 million or 48 percent of total sales of US$ 191 million. With additional production capacity, the exports value is expected to increase from US$ 90.67 million to US$ 130 million, while the value of sales in domestic market, given the additional supply, is expected to increase from US$ 99.37 million to US$ 141 million.”
The Industry Minister Saleh Husin expresses his hope that Indo Kordsa will be more expansive in investing in Indonesia in the next few years, given that, the economy continues to grow and is getting close to the implementation of the ASEAN free trade. (*)
PT Indo Kordsa Tbk was established in July 1981 under the name of PT Branta Mulia (BRAM), and engages in producing tire cord, nylon fibers, polyester, rayon and nylon yarns for tires. It listed on the Indonesia Stock Exchange in 1990.
In December 2006, the company was taken over Kordsa Global. Kordsa Global has subsidiaries in 7 countries in 5 continents in the world, namely: Germany, Egypt, USA, Brazil, China, Thailand and Indonesia. In 2007, Branta Mulia (BRAM) officially changed its name to PT Indo Kordsa Tbk. (*)
