A global food and BIO company from South Korea, CJ Jedang, through its Indonesian unit, has announced to invest US$150 million in the country. The investment commitment was signed directly by the deputy at the Investment Coordinating Board, Imam Soejoedi, with President Director of PT CJ Indonesia, Shin Hee Sung, on Nov. 25.
The South Korean company is currently building a new factory that will produce cysteine, with a production capacity of 3,000 tons a year and a total investment of $100 million. The new plant is expected to start production and export by the end of 2020. 100% of production will be exported to several countries in North America, Europe and Asia.
In addition, CJ Indonesia will also start to developing polyhydroxyl-alkanoate factory, to producing 100% environmentally friendly plastic (biodegradable). The total investment for this projects is estimating $50 million with a production capacity 5,000 tons per annum also aimed for export market.