Arab Today, arab today hyundai heavy to tap brazilian
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Hyundai Heavy to tap Brazilian

Arab Today, arab today

Arab Today, arab today Hyundai Heavy to tap Brazilian

Seoul - Yonhap

Hyundai Heavy Industries Co., the world\'s largest shipyard, said Tuesday that it will spend US$150 million to build a construction equipment plant in Brazil in an effort to break into the largest market in Latin America. To that end, Hyundai Heavy signed a preliminary agreement with a local Brazilian government to establish a factory in Rio de Janeiro by the end of next year, the company said. Once completed, the plant will have a capacity to manufacture 2,000 units of excavators and loaders. Hyundai Heavy plans to ramp up production to 4,000 by 2014.

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