Shandong Group, one biggest manufacturer in China, partnered with PT Vorich Wealth Indo, member of Mulia Genta Group, plans to build tire factory for truck and car in Karawang, West Java.
Budi Purnama, president director of Vorich Wealth Indo, as quoted by Bisnis Indonesia, said the contruction of tire factory will cost US$500 million.
The construction, he said, will start next month and is targeted to finis in February 2014.
Budi said Shandong Group will hold 75% ownership on the project while Vorich owns 25% interest.
