Hyundai Construction Equipment to up India investments

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Hyderabad, Aug 12 (UNI) Hyundai Construction Equipment India Ltd, a wholly-owned subsidiary of Korea-based Hyundai Heavy Industries, will increase its investment in India to Rs 700 crore to capture a market share of 20 per cent in the country.

Addressing the press in connection with the launch of its office in South India here today, Managing Director J S Kim and Director Ky Kong said the company was giving prime focus to South India,including Andhra Pradesh, which had the highest demand for hydraulic excavators.

The company, which had invested Rs 300 crore in its Pune Plant, was negotiating with the Maharashtra Government for allocation of 125 acre of land for its expansion, they said, adding the company was also looking at other states, including Andhra Pradesh, for future expansion in the construction equipment sector.

The Korean company was seriously considering expansion in the power sector as it viewed India as potential market for power equipment and accessories, including transformers, generators and switch gears, they said.

UNI SM VA GM 1443

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