Indorama Synthetics has begun commercial production at a $40 million spinning mill facility in Purwakarta, West Java in Indonesia.
“Indorama Synthetics is Indonesia's biggest producer of textile raw materials and this new facility is its ninth in the country,” Indonesian newspaper Jakarta Globe said.Indorama Synthetics has begun commercial production at a $40 million spinning mill facility in Purwakarta, West Java in Indonesia.“Indorama Synthetics#
The plant, which has a capacity to produce 10,800 metric tons of yarn per year, will offer employment to 270 people.
Indorama Synthetics is controlled by Indian-born businessman Prakash Lohia and the company is listed on the Indonesia Stock Exchange since 1990.
“Indorama's expansion can support the government's plan to reduce unemployment and improve the locals' income in Purwakarta district,” Jakarta Globe quoted Franky Sibarani, BKPM chairman as saying.
According to the chairman of the country's Investment Coordinating Board (BKPM), new investment in the textile and textile products industry last year stood at Rp 8.3 trillion, up 35.7 per cent compared to a year earlier.
“New local investment in the sector was recorded at Rp 2.7 trillion while foreign investment contributed Rp 5.4 trillion,” he added. (AR)
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