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Hyundai Heavy to invest $2 bln in China over 5 yrs

Thu Jul 3, 2008 9:47pm EDT

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SHANGHAI, July 4 (Reuters) - South Korea's Hyundai Heavy Industries Co Ltd (009540.KS), the world's top shipbuilder, plans to invest up to $2 billion in China in the next five years, the China Securities Journal quoted a senior executive of its China branch as saying on Friday.

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Hyundai Heavy intends to invest 50 million yuan in a loader plant in the coastal province of Shandong. The company is also considering increasing investment in new energy, construction machines, ocean logistics and passenger planes, said Kang Chul-ho, a general manager of Hyundai Heavy Industries (China) Investment Co.

(Reporting by Rujun Shen; Editing by Keiron Henderson)

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