in

South Korea to Build Electric Cable Factory Worth US $ 50 Million in Indonesia

Jakarta -LS Cable & System (LS C & S) immediately built a US $ 50 million cable plant with a joint venture (JV) scheme with PT Artha Metal Synergy (AMS).

LS C & S is a South Korean company (South Korea). The plan, the power cable factory will be built in the area of ​​Artha Industrial Hill, West Karawang, West Java (West Java).

As quoted from the official statement of the Ministry of Foreign Affairs, Thursday (21/06/2018), the plant will have an area of ​​64,000 square meters. The plant is scheduled to be ready for operation by the end of 2019 and will generate sales of US $ 100 million by 2025.

“I call Indonesia in formula 3 + 2. The three main things that make Indonesia the best place are the size of the existing market, access and availability of raw materials, and the abundance of labor force, “said Ambassador of Indonesia in Seoul Umar Hadi.

With the establishment of this cable plant, he expects the government’s target in achieving sufficient power distribution throughout the archipelago more easily realized.

Meanwhile, CEO of LS C & S CEO Roe-Hyun Myung said Indonesia is one of the fastest growing countries in the world that has become an attractive market.

At the end of November 2017, South Korean President Moon Jae In had visited Indonesia and met President of Indonesia Joko Widodo. At that time, the two agreed to increase cooperation in various fields, especially economic investment and creative industries.

What do you think?

Written by DI

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

10 Favourite Destinations of the Royal Family

New Runway Development Adds Soekarno-Hatta Flight Slot