Hyundai Construction Equipment India, subsidiary of Korea's Hyundai Heavy Industries, said on Wednesday its Pune-based plant would begin production from this month.
"The greenfield construction equipment plant is nearly ready at Pune being constructed at a cost of Rs 300 crore (Rs 3 billion). The plant will begin production by the end of August," Hyundai Construction head (marketing) Suvendu Moitra said at the inauguration of the east regional office in Kolkata.
The Pune plant will manufacture excavators up to 20 tonne and payloaders. Hyundai Korea already sold around 300 imported excavators in India in the last few years.
"We will import excavators beyond 20 tonne capacity. While, the Pune plant will produce 20 tonne, 11 tonne and nine tonne hydraulic excavators," Moitra said.
Company Managing Director J S Kim said Hyundai is considering India as a strategic market where mining and construction sector is witnessing a boom.
The plant will have an optimum capacity of 10,000 units by the next three four years and the company was aiming to rake a turnover of Rs 2,000 to Rs 2,500 crore (Rs 20 to Rs 25 billion) by that period.
