Posted on 20 Oct 2023
On Oct. 19, POSCO announced the completion of an automotive coated steel plate production and sales factory in Hebei Province, China. This is a joint venture with the Hesteel Group with an annual capacity of 900,000 tons.
In May 2021, POSCO’s board of directors approved the establishment of a joint venture in Tangshan City, Hebei Province, to expand sales of automotive coated steel plates in China. This would include two zinc-coated steel plate production lines (CGL) and a 900,000-ton capacity joint venture.
POSCO and Hesteel Group invested US$300 million each to establish a joint venture named HBIS-Pohang. They began construction in January of the previous year and completed the first phase of the factory, with a capacity of 450,000 tons, on Oct. 19. The second phase is scheduled for completion in May 2024.
With the integration of Guangdong Pohang, a 450,000-ton capacity coated steel plate factory that POSCO operates in Guangdong Province, China, HBIS-Pohang will have a total production capacity of 1.35 million tons.
The completion ceremony held today was attended by about 200 individuals, including Choi Jung-woo, chairman of POSCO Group; Kim Hak-dong, vice chairman of POSCO; Yong Wi, vice president of Hesteel Group; Jung Jae-ho, the Korean Ambassador to China; Wang Jung Fu, governor of Hebei Province; and Wei Dong Wu, secretary of Tangshan City.
Source:Business Korea
