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The answer is blowing in the wind for HHI
Hyundai Heavy Industries, 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.
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.
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