Indorama inaugurates its ninth Textile Plant in West Java, Indonesia
Indorama Synthetics, Indonesia’s biggest producer of textile raw materials, inaugurated its USD 40 million spinning mill facility in Purwakarta, West Java which is situated on a 50 hectare plot land that has been owned by Indorama since 1997on Wednesday, said the country’s Investment Coordinating Board (BKPM)
Franky Sibarani, BKPM chairman, who was there to witness that inauguration on Wednesday said that Indorama’s expansion can support the government’s plan to reduce unemployment and improve the locals’ income in Purwakarta district, while also improving foreign exchange earnings from exports,
The Purwakarta mill is Indorama’s ninth plant in the archipelago nation, having a capacity to produce 10,800 metric tons of textile raw material per annum, Franky said. The plant will provide around 270 new jobs.
New investment in the textile and textile products industry last year stood at Rp 8.3 trillion, up 35.7 % 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, BKPM said.
According to the company’s website, Indorama Synthetics – controlled by Indian-born businessman Sri Prakash Lohia – has been listed on the Indonesia Stock Exchange since 1990.