Construction of Hyundai Plant in Indonesia on Track at 22 Percent Completion Rate

JAKARTA, KOMPAS.com – The Investment Coordinating Board (BKPM) has expresed confidence in the factory project of South Korea’s PT Hyundai Motor Manufacturing Indonesia (HMMI).

The construction of a factory project worth $1.55 billion has exceeded its initial completion target of 20 percent.

Head of BKPM Bahlil Lahadalia expressed his appreciation to South Korean investors for their commitment to realizing their investment in Indonesia.

He also said that his office would continue to support the project, including facilitating licensing, raw materials, and handling land issues.

"I always try to directly get involved in resolving investment problems," he said in an official statement received by Kompas.com on Monday, June 29.

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He added that President Joko Widodo also extended his appreciation to Hyundai for realizing the company’s investment amid the Covid-19 pandemic.

Meanwhile, Hyundai Asia Pacific President Lee Young Tack said that the construction work of the HMMI plant is 22 percent complete. Work progress was previously set at 20 percent for the current phase.

“We are thankful for the Indonesian government support, especially from the BKPM in facilitating our investment in Indonesia,” Lee said.

He said that Hyundai will import machinery and bring in experts from South Korea to build its factory.

To help Hyundai achieve its goals, BKPM has been working closely with all proper channels, including the Indonesian Embassy in Seoul and all relevant ministries and government institutions in Indonesia, said Bahlil.

(Writer : Elsa Catriana | Editor : Yoga Sukmana)

Source: https://money.kompas.com/read/2020/06/30/193100726/pembangunan-pabrik-hyundai-di-ri-sudah-capai-22-persen.