VW Investment Plans Revealed

Indonesia's Investment Co-ordinating Board (ICB) has revealed that Germany's Volkswagen (VW) will invest US$140mn (IDR1.4trn) in its first production plant in the country. The two-year project will see the company build a base for its Touran multi-purpose vehicle (MPV), which will have an annual production capacity of 50,000 units. According to ICB chairman, Muhammad Lufti, MPV production in Indonesia is 30% cheaper than in other Association of South East Asian Nations (ASEAN) markets due to tax breaks.

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