Hyundai completes Brazilian plant

Hyundai Heavy Industries has finished work on its first construction equipment factory in Brazil. A ceremony to mark the occasion in Itatiaia, Rio de Janeiro state, was attended by Rio de Janeiro state governor Sergio Cabral, mayor of Itatiaia Luis Carlos Ferreira Bastos and president & COO of Hyundai’s Construction Equipment Division Choe Byeong-ku.

With an investment of US$ 175 million, the 562,000 m² factory has an annual production capacity of 3,000 excavators, wheel loaders, and backhoe loaders. Hyundai says there are plans to increase capacity to 4,000 units by 2014.

The company said the new Brazilian plant will serve as a production hub for South and Central America. “We believe our construction factory can make contributions to, and grow together with the Brazilian economy which continues to grow as a centre of the global economy,” said Mr Choe.

Hyundai said recent orders in Brazil totalled US$ 60 million for 500 machines. These orders were focused on eight major projects in Brazil including the construction of a hydroelectric power plant in Pará state and a railway scheme in Brazil’s northeast.