POSCO breaks ground for new steel-sheet plant 상세내용
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POSCO breaks ground for new steel-sheet plant
date2004-09-17 00:00:00
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Date September 07, 2004
POSCO, Koreas largest steel maker said on Monday (September 6) that it broke gro on its sixth automotive steel-sheet plant in Gwangyang, South Jeolla Province.
Once the newest continuous galvanized line plant is completed in May 2006 to churn out an estimated 400,000 metric tons a year, POSCOs automotive steel sheet-making capacity will be raised to an annual 2 million tons at its Gwangyang mill.
According to POSCO officials, the facility is part of the steel giants plans to nurture the mill into an exclusive headquarters for producing sophisticated steel sheets for automobiles.
Currently, it runs four galvanized sheet plants there, with a fifth waiting to be completed by October next year.
The company will invest about 190 billion won for this addition, which the company believes will greatly benefit the local automotive sector in the face of fierce overseas competition.
There are only a few steel manufacturers in the world that are capable of producing galvanized steel sheets used in cars. So with our enhanced production capacity, we hope to contribute to a more stable supply of steel sheets for the domestic automotive industry, said a POSCO spokesman.
The global steel industry increasingly depends on newer, sophisticated technology, meaning that the development of new technology is crucial to beat the competition from developing nations, namely China.
POSCO also recently broke gro in Pohang, its headquarters in North Gyeongsang Province, on its FINEX plant that utilizes an innovative new technology for producing steel by eliminating coking coal from the process.
