Doosan Invests $320 Million in Korean Lift Truck and Construction Vehicle Plant

Doosan Infracore (Inchon, South Korea) is expanding its domestic output capacity as part of a global business strategy. In October, company officials concluded an investment agreement with Gunsan City, North Jeolla Province for building a new construction and lift truck plant at the National Industrial Complex at Gunsan.

According to the agreement, Doosan Infracore will invest $320 million next year to build the new facility on a 1.12 million square-meter site. Start up is scheduled for 2009. The municipal and provincial governments will expedite the legal red tape and will subsidize the project.

Doosan Infracore reportedly decided to build another plant in Korea as part of it's plan to hit $10 billion in sales by 2010. Achieving this goal will require an estimated capacity to produce 31,000 excavators and 55,000 lift trucks a year. Once the new Gunsan plant is complete, Doosan Infracore will have construction equipment production facilities in three global locations. Total output for construction equipment (excavators and wheel loaders) will be around 50,000 units a year, about the same as that for the company's main overseas rivals.

Source: Doosan Infracore

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