Hyundai Heavy to spend 102 bln won for wind power plant

SEOUL, Sept. 24 (Yonhap) -- Hyundai Heavy Industries Co., the world's largest
shipbuilder, said Wednesday that it plans to invest 102 billion won (US$880
million) in a plant that makes wind-power generators as part of efforts to
diversify its business portfolio.
Construction of the plant is scheduled to be completed in February 2010, the
company said in a regulatory filing.
Hyundai Heavy is currently involved in a solar energy-related business. The
shipbuilder has spent 34 billion won to build its first solar-cell producing
plant in Eumseong, 108 kilometers south of Seoul, and plans to spend 300 billion
won to build its second factory by 2010.
The company expect its sales of solar cells and solar modules to reach 1 trillion
won in 2010 on rising demand for alternative energy.
Shares of Hyundai Heavy closed at 279,000 won on the Seoul bourse, up 1.82 percent