Posted on 05 Jan 2024
South Korean leading steelmaker POSCO has completed the first phase of the construction of its non-oriented electrical steel sheet plant (the Hyper NO plant) at Gwangyang Steel Works. The plant is to meet the growing demand from the electric vehicle (EV) and high-end appliance markets.
The Hyper NO plant, with a total investment of 1 trillion won, has an annual production capacity of 300,000 tons. The completion of the first phase of the project will make the plant produce 150,000 tons of Hyper No steel yearly, with an available thickness of up to 0.15 mm.
POSCO aims to complete the second phase by the end of the year, in order to fulfill customers’ demand at full capacity.
Besides, the company is mulling to build a new electrical steel sheet plant in North America to service global customers. It has an ambitious target to reach 1 million tons of production worldwide by 2030.
Source:Yieh
