Toyota to invest $1.7b in Indonesia over five years
TOKYO (AFP) - Japan's Toyota group said on Saturday that it will invest about 13 trillion rupiah (S$1.7 billion) over the next five years in expanding its vehicle production in Indonesia.
Toyota Motor and its five affiliated firms are making the move "considering the remarkable growth of the (Indonesian) market in recent years", a statement from the group said.
The investment will create 9,000 new jobs, raising the group's total workforce in Indonesia to around 41,000, according to Japanese media.
Toyota Motor's Indonesian unit, Toyota Motor Manufacturing Indonesia (TMMIN), will buy 150 ha of land near its two plants in Karawang outside Jakarta to build a new engine plant, the statement said.