Head Of BKPM Inaugurates Expansion Of Company's Factory Owned By The Conglomerate Sri Prakash Lohia, Indorama Worth IDR 510 Billion

Sri Pakash Lohia Conglomerate. (Photo: Instagram @forbesindonesia)

JAKARTA - Head of Investment Coordinating Board (BKPM) Bahlil Lahadalia inaugurated the IDR 510 billion expansion of PT Indorama Synthetics Tbk's factory located in Purwakarta Regency, West Java.

The expansion of the investment includes the production of yarns from cotton, polyester, nylon, acrylic, spandex, rayon, and its mixture.

"Our presence today is a form of government attention in ensuring even in the era of the COVID-19 pandemic that the industries continue to run. Especially for Indorama, he did an expansion program to his industry because they already control the world market", Bahlil said in an official statement quoted from Antara, Thursday, April 8.

Bahlil explained that the investment has been given fiscal incentives by the government so that it should be able to have a broad impact on the community around the investment site.

"They applied for a financial incentive in the form of Tax Allowance and I have loved it. Today our presence to ensure that it runs and thank God we must appreciate that Indorama is one of the companies that can be used as an example to ensure environmental sustainability, vocational activities for the community, absorption of labor goes well by government programs", said Bahlil.

On the same occasion, President Director of PT Indorama Synthetics Saurabh Mishra expressed his appreciation for the support always given by BKPM.

"I would like to thank the Head of BKPM who has taken the time to attend here despite the busyness. We feel motivated and happy to have the support of the government," Mishra said.

PT Indorama Synthetics is a company owned by the conglomerate Sri Prakash Lohia, which was founded in 1975 and began commercial production in 1976 with a cotton-spinning plant in Purwakarta that continuously diversifies and expands its spun yarn business and adds to polyester manufacturing production.

Polyester is a raw material used for clothing used daily, ranging from t-shirts, shirts, suits, and so on. It is also commonly used for needs other than clothing, such as furniture, the automotive industry, and home appliances.

PT Indorama Synthetics is one of the largest exporters in Indonesia to North America, Europe, South America, Asia, Australia, and the Middle East.