TOKYO Nov 9 Toyota Motor Corp and
group companies are to invest about 7 trillion rupiah ($727
million) in Indonesia over the next five years, in addition to
recently announced plans totalling 6 trillion.
To meet growing demand in Southeast Asia's top economy,
Toyota will expand annual capacity at its No.1 Karawang plant by
about a fifth to 130,000 vehicles by September 2013, the
Japanese carmaker said on Saturday.
That investment will be worth around 310 billion rupiah,
spokesman Joichi Tachikawa said. Toyota produces the Kijang
Innova and the Fortuner at the No.1 Karawang plant.
Toyota, which has close to 40 percent share of Indonesia's
car market, will also buy land near there to build an engine
factory, it said.
Toyota's five group companies involved in Indonesian
investments are Aisin Seiki, Daihatsu Motor,
Denso, Toyota Auto Body and Toyota Tsusho
Earlier this year, Toyota said it was investing 5 trillion
rupiah to build No.2 Karawang plant. Denso said in September it
was investing about 1 trillion rupiah to build a new plant in
Indonesia's car market has been growing steadily. Last year,
car sales jumped 17 percent to a record 894,180, data from
industry groups showed.
($1 = 9,625 Indonesian rupiah = 79.83 yen)
(Reporting by Yoko Kubota; Editing by Dan Lalor)