Construction Equipment Division of Hyundai Heavy Industries has concluded a MOU with state government of India to establish a construction equipment operation and factory.

Hyundai announced that it will invest 50 million US dollars and establish a new operation and factory in Pune, mid west of India in Maharashtra state, in order to manufacture and sell excavators in emerging Indian market.

This factory, 33,000 square meters large on 200,000 square meters ground, will be located in industrial complex in city of Pune in Maharashtra state. Construction starts from June and will start to produce from July of 2008.
Kiuhyun, Park, chief operating officer of construction equipment division, revealed his ambition "India is the most attractive country to invest in a mid and long term. We will increase our market share in India with continuous investment and localization strategy".

Hyundai is preparing to hold a dominant position by releasing products with excellent operation and economical efficiency and unfolding differentiated strategies for sales and management.