Nissan to invest $320 mn in Indonesia plant

Japanese Nissan Motor said Tuesday it plans to invest $320 million in Indonesia to more than treble production capacity at its West Java factory and set up a new engine assembly plant nearby. "We plan to increase production capacity at the plant from 50,000 vehicles per year to 180,000 vehicles for each year by 2013," Nissan Motor Indonesia vice president of sales and promotion Teddy Irawan said. "This September we'll complete the first phase of the capacity expansion to increase production from 50,000 units to 100,000 units. In the next phase, we'll raise capacity from 100,000 units to 180,000 units," Irawan said. Indonesia, Southeast Asia's largest economy, is seeking billions of dollars in foreign investment to help it achieve target of 7.0-percent growth by 2014. The archipelago aims to attract private investment of up to $465 billion by 2025.