Hyundai Heavy to invest $1.2 bln in South Korea's shipyard

Hyundai Heavy Industries Co Ltd , the world's top shipbuilder, said on Wednesday it plans to invest 1.2 trillion won ($1.20 billion) in building a shipyard in South Korea.

Hyundai said in a filing to the Korea Exchange that the shipyard would generate 3 trillion won in sales with an annual capacity of 28 ships.

Source: http://www.reuters.com