HHI Signs MOU for Construction Equipment Factory in Brazil

Hyundai Heavy Industries, the world’s largest shipbuilder and a leading construction equipment manufacturer, signed an MOU to build a construction equipment factory in Brazil with the state of Rio de Janeiro and the municipal city of Itatiaia on July 26.

Under the MOU, Hyundai Heavy will make an investment of USD 150 million for the 562,000 square meter factory in Itatiaia, Rio de Janeiro. The state of Rio de Janeiro and the municipal city of Itatiaia will develop infrastructure including laying down electricity, water and gas supply lines, and paving entry road.

Upon completion by the end of 2012, the plant will be capable of producing 2,000 construction equipment a year, including excavators, wheel loaders, and backhoe loaders. Hyundai Heavy also plans to extend its annual production capacity to 4,000 units by 2014.

The Ulsan, South Korea-based company expects the new Brazilian plant will serve as the South and Central America base helping Hyundai Heavy secure market share, and provide better service to clients in the region.

The Brazilian construction equipment market is expected to continue growing as various infrastructure projects such as express train, express highway, and hydroelectric power plant projects are expected to win approval in the run-up to the 2014 World Cup and 2016 Olympic Games​.

Source: HHI, August 8, 2011

Share this article

Follow Dredging Today

Events>

<< Mar 2015 >>
MTWTFSS
23 24 25 26 27 28 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Advanced Pump and Slurry Course

Pumping slurry is a complex and important process. In this advanced, 4-day training, emphasis is put on the hydraulic transport of solids…

read more >

2015 Port Administration and Legal Issues Seminar

This two-and-one-half day seminar covers the latest trends, challenges and risk management strategies for port administrators, finance…

read more >

Ocean Business 2015 Conference

More than just a static Exhibition Ocean Business already has an outstanding reputation for its training and demonstration programme, which…

read more >

SEDHYD 2015

The Joint Conference will provide Federal and non-Federal scientists and managers from various disciplines the opportunity to discuss…

read more >

Jobs>

Proposal Designer Special Projects

You work together with our salesteam, finding creative solutions to meet customers demands but build effieciently as usual and produce effectively ass well. Je create broad ship designs and adapt it for specific customer demands. Besides, you prepare specifications...

apply

Controller international projects

Project controllers are part of the project team abroad, responsible for setting up, implementing, and managing Finance and Control issues on-site at projects and in our offices all over the world...

apply

Multiple Positions available for dredging project in Malaysia

Hall Contracting has recently been awarded a contract in Johor Bahru, Malaysia. They are currently looking for a Cutter Suction Dredge 1st and 2nd Operator...

apply