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Japan’s Hyundai begins building plant in Primorye

September 10, 2011, 9:34 UTC+3
The construction of a plant for producing high voltage electro-technical equipment by the South Korean company Hyundai has begun in the city of Artem of the Primorsky Territory
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VLADIVOSTOK, September 10 (Itar-Tass) —— The construction of a plant for producing high voltage electro-technical equipment by the South Korean company Hyundai has begun in the city of Artem of the Primorsky Territory on Friday.

As ITAR-TASS learnt at the press centre of the administration of the Primorsky Territory, the plant is to be put into operation in September 2012. It will provide Primorye with additional 400 jobs.

“The whole energy complex of Russia today needs modernization and huge investments, including in Primorye,” Russian First Deputy Prime Minister Igor Shchogolev said speaking at the stone-laying ceremony of the new enterprise. “Therefore, it is important for the region’s development that a plant for producing electro-technical equipment will be built here.”

According to Hyundai estimates, as outdated electric supplying systems will be modernized in Russia, the demand for equipment which the plant will produce in Primorye will grow. Its sales in Russia last year amounted to 48.6 million dollars, and the demand for it will grow up to 93.5 million dollars by 2013.

Simultaneously with the beginning of the construction of the plant, a new collage, which will train workers for it, will be opened in Vladivostok.

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