HYUNDAI Heavy Industries Co (HHI) announced that it completed its first construction equipment factory in Brazil. The completion ceremony for the factory in Itatiaia, Rio de Janeiro state, was attended by Sergio Cabral, Rio de Janeiro State Governor; Luis Carlos Ferreira Bastos, Mayor of Itatiaia; and Choe Byeong-ku, President & COO of HHI's Construction Equipment Division.With an investment of $175 million, the 562,000 sq m factory has an annual production capacity of 3,000 units including excavators, wheel loaders, and backhoe loaders, and plans to increase the capacity to 4,000 units by 2014. HHI has already won orders worth $60 million for 500 construction equipment from eight projects in Brazil including the construction of a hydroelectric power plant in Par? state and a railway project in Brazil's northeast.