This image provided by Hyundai Construction Equipment Co. on Tuesday, shows a 125-ton excavator manufactured by the company. (Hyundai Construction Equipment Co.)
Construction machinery maker Hyundai Construction Equipment Co. said Tuesday that it has sold 42 large-scale excavators in Russia and Indonesia on the back of growing demand in the two countries.
Hyundai Construction Equipment has signed a deal with two Russian mining companies to provide two 85-ton excavators and 19 125-ton excavators specialized in developing mines, respectively, by June next year, the company said in an emailed statement.
Under another deal with an Indonesian mining company, Hyundai Construction Equipment will supply 17 85-ton excavators and four 125-ton excavators from the fourth quarter of this year to the first half of next year.
"Demand for large-scale excavators is expected to gradually increase in emerging markets such as Russia and Indonesia, helped by economic recovery and a soar in coal prices," the company said.
Hyundai Construction Equipment said Russia and Indonesia have been increasing the output of their coal mines as China has imported more coal from the countries to generate more electricity. (Yonhap)