Theindonesiatoday.com - China-based car builder Build Your Dream Company Ltd (BYD) plans to invest around US$200 million, or Rp1.71 trillion, in Indonesia, Investor Daily reported this morning.
The company, some of shares owned by billionaire Warrent Buffet, intends to develop its automotive business in Indonesia as base for car production in Southeast Asia region.
Bambang Sujagad, deputy head of industry, research and technology at the Indonesian Chamber of Commerce and Industry (Kadin), said BYD Company had in April 30, 2011 signed memorandum of understanding with Kadin for investing in Indonesia.
Gita Wirjawan, chairman of the Investment Coordinating Board (BKPM), also confirmed and said BYD Company is now looking for local partner and targets to realize the investment this year.
Budi Pramono, president director of PT Geely Mobil Indonesia (GMI), also said some car builders from China are preparing to invest in Indonesia.
He said Great Wall Motor, as well as other China car builders, will invest minimum US$30-50 million for establishing assembly plant in Indonesia.
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