Stadler has announced that it has signed a joint venture contract with Indonesian rail vehicle manufacturer PT INKA.
The joint venture will develop and manufacture rail vehicles using modern aluminium technology at the production site in Banyuwangi.
Stadler has succeeded in completing the strategically important leap to the South East Asian region.
One of the contractual conditions to be met before being able to implement the technology transfer and start training the Indonesian employees is that an order has to be received for 500 suburban rail carriages.
Back in the spring, Stadler and PT INKA had signed a declaration of intent in Banyuwangi to establish a joint plant in Indonesia.
After intensive negotiations this week, Peter Spuhler, Chairman of the Stadler's
Board of Directors, Ansgar Brockmeyer, Sales Director at Stadler, and Budi Noviantoro, President Director of PT INKA, signed the joint venture contract.
The contract was signed in Bussnang in the presence of the Indonesian Minister of State Owned Enterprises, Ms. Rini M. Soemarno, who had travelled from Indonesia
for the event.
PT INKA started building the necessary production facility in Banyuwangi, Indonesia, in January 2019. According to the contract, production is scheduled to start in 2021.
What did the officials say?
Peter Spuhler, Chairman of Stadler's Board of Directors said:
Stadler is proud to have signed the joint venture contract with PT INKA today. Following several failed attempts to successfully enter the Asian market from Europe, we realized that this was not possible without a production site on the spot. We therefore decided to look for a suitable local partner, and have finally managed to find one after more than ten years of searching. This has enabled us to make the leap to Asia,
We are convinced that in PT INKA, we have found a professional partner for this joint venture. The new production site in Indonesia consolidates Stadler's market entry in Asia and creates the best possible conditions for achieving growth in the region.
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