Hyundai Heavy Finishes Construction Equipment Factory in Brazil
Hyundai Heavy Industries Co., Ltd. (HHI) has completed its first construction equipment factory in Brazil. HHI said it invested $175 million in the more than 6 million sq. ft. factory. The factory has an annual production capacity of more than 3,000 units and can build a range of units, including excavators, wheel loaders, and backhoe loaders. The company said the planned production capacity for the plant is 4,000 units.
According to HHI, the company has aleady received orders worth $60 million for 500 construction equipment units from eight projects in Brazil. These projects include the construction of a hydroelectric power plant in the state of Pará and a railway project in Brazil’s northeast.
To mark the opening of the plant, HHT held a completion ceremony for the project in Itatiaia, Rio de Janeiro. The ceremony was attended by Mr. Sergio Cabral, Rio de Janeiro state governor; Mr. Luis Carlos Ferreira Bastos, mayor of Itatiaia; and Mr. Choe Byeong-ku, president & COO of Hyundai Heavy Industries’ Construction Equipment Division.