Nissan to invest $320 million in Indonesia plant

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Today, Nissan announced that it plans to invest $320 million in Indonesia to raise production capacity at its West Java factory and build a new engine assembly plant nearby.

Nissan Indonesia vice president of sales and promotion, Teddy Irawan said "we plan to increase production capacity at the plant from 50,000 cars per year to 180,000 cars for each year by 2018,"

"This September, we'll complete the first phase of the capacity expansion to increase production from 50,000 cars to 100,000 cars. In the next phase, we'll raise capacity from 100,000 cars to 180,000 cars." he added.

Indonesia, Southeast Asia's largest economy, is seeking billions of dollars in foreign investment to help it achieve target of 7% growth by 2014.

Not only that, Indonesia also aims to attract private investment of up to $465 billion by 2025.