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South Korea's Doosan Infracore has joined forces with China's biggest heavy equipment-related company to meet growing demand in China.

The South Korean company will set up a diesel engine joint venture with Xuzhou Construction Machinery Group by 2013, company officials said as part of Doosan's strategy to establish overseas production facilities.

Doosan and Xuzhou plan to invest some 125 billion won in the 50-50 venture over the next four years to produce 50,000 diesel engines with displacements of six and eight liters on a yearly basis when construction is completed, Doosan spokesman Jeong Kyong-O said.

The venture will be located in Xuzhou, Jiangsu Province, Jeong added.

"The joint venture will lay solid ground for us to become one of the world's top 10 diesel engine makers by 2015," Lee Hwang-ryeol, a senior executive at Infracore’s engine unit, said.

Read the full story at the Korea Times.

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