Hyundai invests $330 million in new Korea facility

Hyundai Heavy Industries is investing $330.2 million in a construction equipment facility in Korea. The new facility will include sales and marketing offices, technical engineering office, fabrication and assembly plant, an evaluation laboratory and a machine depot.

The facility will be built in the outskirts of Ulsan city and is scheduled to be completed in October, 2010. Upon completion, the size of the plant will be increased from 2,131,254 square feet to 4,865,287 square feet. The annual construction equipment production is expected to nearly triple once the facility is underway from 22,000 to approximately 60,000 units.