Hyundai Heavy starts work on wind power facility

SEOUL, Feb. 2 (Yonhap) -- Hyundai Heavy Industries Co., the world's largest
shipbuilder, said Monday that it began work on a plant for the construction of
wind-power generators as part of efforts to diversify its business portfolio.

The plant, in Gunsan, 274 kilometers southwest of Seoul, will be completed by
September this year and start manufacturing wind-power generators with a capacity
of 1.65 megawatts the following month, it said.
Hyundai Heavy plans to spend 102 billion won (US$73.2 million) on the wind-power
facility, the company said.
Hyundai Heavy is also currently involved in solar energy-related business. The
shipbuilder 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 a second factory by 2010.
The company expect sales of solar cells and solar modules to reach 1 trillion won
in 2010 on rising demand for alternative energy.
Samsung Heavy Industries Co., the world's second-largest shipbuilder, is also
preparing to enter the wind power industry as shipbuilding orders may fall
drastically in coming months due to a global economic recession.
sam@yna.co.kr
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