Hyundai Heavy Sees $300 Million China Turbine Plant Sales
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Hyundai Heavy Industries Co., the world’s largest shipyard, expects annual sales of as much as $300 million from a wind-turbine factory in China as it bolsters clean-energy units to pare a reliance on making vessels.
The plant in Weihai in the eastern province of Shandong will open in October and may post at least $50 million of sales next year, Kim Kweon Tae, head of the company’s low-carbon energy business, said in an Aug. 31 interview in Ulsan, South Korea. The sales may jump sixfold by 2015, he said.