New Hyundai – Cummins JV factory opens in Korea

A new joint venture factory in South Korea has now been completed for the Hyundai Cummins partnership. The 78,045m2 Hyundai Engine Company (HCEC) plant is located in Daegu and will produce engines for construction machines. The two firms agreed a deal to establish the joint venture plant, capable of producing 50,000 engines/year, back in December 2012. This operation has a sales target of US$500 million by 2020, and is expected to create about 3,700 direct and indirect jobs in the region by 2020.
May 12, 2014 Read time: 1 min
The new engine factory producing diesels in South Korea for the Hyundai Cummins joint venture is now complete
A new joint venture factory in South Korea has now been completed for the 236 Hyundai 196 Cummins partnership. The 78,045m2 Hyundai Engine Company (HCEC) plant is located in Daegu and will produce engines for construction machines. The two firms agreed a Deal to establish the joint venture plant, capable of producing 50,000 engines/year, back in December 2012. This operation has a sales target of US$500 million by 2020, and is expected to create about 3,700 direct and indirect jobs in the region by 2020.
Engines, Components & Tyres

For more information on companies in this article

Related Content

  • UK: FM Conway and Nynas agree Thames River bitumen storage deal
    April 15, 2015
    Infrastructure services contractor FM Conway has signed a deal to supply Nynas, a UK provider of bitumen binder, with bitumen from its recently rebuilt Imperial Wharf terminal. The facility is on the River Thames in the town of Gravesend, near the mouth of the river and down river from London. FM Conway invested around €3.5 million to refurbish the terminal which was finished last September. The terminal has the capacity to dock and store up to 7,500tonnes of bitumen. Under the deal, Nynas will bas
    Read More
  • Egis buys Projacs to boost its Middle East presence
    August 5, 2015
    French engineering group Egis has acquired 51% of Projacs, a major project and construction management firm in the Middle East. Egis, based in Guyancourt, north of Paris, made the purchase for an undisclosed sum. The move follows the purchase in Brazil of highways contractor Lenc at the end of last year. Projacs, founded in 1984, is based in the Gulf Cooperation Council countries of Saudi Arabia, Bahrain, Oman, Qatar, United Arab Emirates and Kuwait, but also operates in neighbouring countries. It
    Read More
  • Russia to commission new Moscow-St Petersburg highway by 2020
    June 20, 2017
    Final delivery of the final stretch for Russia’s key highway project looks set to be delayed – Eugene Gerden writes. I now looks as if Russia’s most ambitious project in the field of road building in recent years, the building of a new high-speed road link between Moscow and St Petersburg, the country’s largest cities, will not be complete in time. The project was set up by the Russian government and several private investors. According to initial state plans, building of the new road should have been compl
    Read More
  • China’s rising construction equipment sector in focus at CONEXPO
    February 13, 2017
    In recent years, China construction machinery industry has made great achievements, a fact that will be featured at this year's CONEXPO-CON/AGG. China’s Chamber of Commerce for Import and Export of Machinery and Electronic Products and the China Construction Machinery Association will introduce China construction machinery industry at its booth, G2116A. Chinese construction equipment makers are the world’s largest producers of mobile cranes, wheeled loaders, excavators and now also concrete pumps than
    Read More

Highlighted Content