Hyundai Rotem debuts with forecast of R$300m in revenues in 2016

Just two weeks after getting the operating license for its first production unit in Brazil, Hyundai Rotem, a Korean manufacturer of rolling stock, is about to finish a R$100 million investment in the project, located in Araraquara, São Paulo. The new factory has the capacity to produce up to 2,000 railroad cars per year. Sungha Jun, Hyundai Rotem's president in Brazil, said in an interview with Valor that despite the economic crisis faced by the country the company still believes the urban mobility segment has room to grow and new projects should arise. So far, the Korean company employs 138 people, but the number should reach 180 by year-end. With the orders already received, Hyundai Rotem forecasts revenue of R$300 million in 2016 and the same amount for 2017.

• Tweetar