Hankook Tire on Tuesday held the opening ceremony of its seventh global production plant in Indonesia, attended by the company’s CEO Suh Seung-hwa and Indonesian President Susilo Bambang Yudhoyono.

Located within an industrial complex in Bekasi, West Java, the new facility can produce 6 million tires a year for passenger cars, high-performance vehicles and light trucks, the tire maker said.

Hankook said it invested $353 million in the project, with the expansion work planned to continue until 2018.

The company, which operates two plants in Korea, three in China and one in Hungary as well as the latest Indonesian plant, plans to produce 93.8 million tire products this year.

(jylee@heraldcorp.com)