JAKARTA, Oct 7 - PT Multistrada Arah Sarana Tbk,Indonesia's second-biggest tyre maker by market value, said itplans to boost its annual production capacity to 11 milliontyres next year.
"To increase our production capacity, we need to fix thebottlenecks first," Multistrada Chief Executive Peter Tanurisaid on Monday after the company signed a $170 millioneight-year loan agreement with OCBC NISP.
Multistrada currently has a production capacity of 10million tyres, up 20 percent from previous year. The companyexpects to benefit from the government's low-cost green carprogramme to promote small cars.
Tanuri also said the company was seeking a strategic partnerto develop its plantations, and was in talks with investors fromEurope, Malaysia and Japan.
"We want to retain our majority stake in this joint ventureand we have four plantation assets up for partnership," Tanurisaid. (Reporting by Fathiya Dahrul; Editing by Anand Basu)
- Singapore International News