French tyre company Michelin is said to invest US$500 million for a rubber processing factory and rubber plantations in Indonesia. The plant is set to produce synthetic rubber for export.
With Indonesian partner PT Barito Pacific, Michelin will build a factory in Banten in western Java and rubber plantations in Sumatra and Kalimantan, Indonesia Industry Minister Saleh Husin told Reuters.
“The ground-breaking is expected next year,” Husin added.
Michelin is yet to issue an official confirmation.