Market Chatter: GS Entec Plans KRW 300 Billion Investment in Offshore Wind Substructure Facilities

MT Newswires Live07-11

South Korean energy equipment manufacturing company GS Entec will invest 300 billion won in facilities for producing offshore wind power substructures, Pulse News reported Wednesday.

The company will invest 214 billion won in offshore wind substructure production facilities and 86 billion won in construction at its Yongjam site in Ulsan, South Gyeongsang province. GS Entec secured about 90 billion won from financial backers including Dominus Investment and Simone Investment Managers to fund the project, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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