Cheng Shin Rubber Ind. Co. said Tuesday that it will invest US$300 million to build a plant in Indonesia, according to reports from Focus Taiwan.
In its annual general meeting for shareholders, Cheng Shin President Chen Yun-hwa said that the construction of the new plant is scheduled to start early next year and the facility is expected to begin production at the end of that year.
The plant will serve the rapidly growing motorcycle and car market in Indonesia, said Yun-hwa. The company will use the Indonesian market as a springboard to enter other Muslim markets.