The Korean company Hyundai Heavy Industries began construction of a plant for the production of electrical switchgear equipment (complete switchgear gas-insulated switchgear) in Primorye Artem.
Currently, as the FGC, «Hyundai agreed choice of land of 10 acres for future factory … and proceeded to design and survey work."
Under the agreement, the Korean company is responsible for the design, construction and subsequent operation of the plant. The source of funding for the project will own and borrowed funds Hyundai. The volume of investments in the initial phase will be about $ 50 million.
The plant will create over 250 jobs. It is assumed that the production of electrical switchgear equipment will begin in September 2012.
"JSC" FGC UES "is going on a competitive basis to conclude long-term contract for the supply of electrical equipment in accordance with the current legislation of the Russian Federation and the internal governing documents. In this case, Hyundai is to provide a competitive level of quality and price of their products, as well as the optimal timing of delivery. In addition, FGC UES intends to assist in conducting evaluation tests of equipment in accordance with applicable rules and regulations adopted by the company, "- said in a statement.