Friday Jul 04 2008
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Hyundai Heavy Industries to invest 2 bln usd in China within 5 years
Published: Jul 04, 2008
South Korea's Hyundai Heavy Industries Co Ltd will invest 2 bln usd in China within five years, the official Xinhua news agency reported, citing Jin Zhongzhen, the company's head of China operations.
Jin was quoted as saying that the 20 bln usd will be put into logistics, steel, equipment manufacturing and new energy industries.
Jin also noted that Hyundai Heavy Industries expects to enter China's aircraft manufacturing industry as a strategic investor or shareholder.
He added that the company will move its research center into China and set up a new equipment manufacturing plant in the east of the country.
(1 usd = 6.85 yuan)
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