Posted on 30 Apr 2013
Construction of Gwangyang Needle Coke Factory Started
- Joint collaboration with Mitsubishi Corporation and Mitsubishi
Chemical... Produce high value added carbon material with steelworks
by-product
POSCO is materializing needle coke production for the first time in Korea.
On April 22nd, POSCO held a ceremony in Gwangyang to celebrate the
start of construction of a needle coke factory in Gwangyang, which is a
joint collaboration with POSCO COMTECH, the chemical family company, and
Japan`s Mitsubishi Corporation and Mitsubishi Chemical. CEO Chung
Joonyang, Mitsubishi Corporation President Kobayashi Ken and Counsel
Sasaki Mikio, Mitsubishi Chemical President Ishizuka Hiroaki, National
Assembly Member Woo Yungeun, Ministry of Trade, Industry and Energy
Chief of Industry Policy Lee Gwanseob, Gwangyang City Mayor Lee
Seongung, and 200 others attended the event in hopes for a successful
project.
Needle coke is a needle-shaped high carbon mass, formed after
removing oil components from coal tar which is a by-product formed
during high temperature dry distillation of coal, and is a high value
added material used in electrode poles, semiconductors, LEDs, and
secondary batteries for its electrical qualities. As a by-product of
lump coke, 500,000 tons of coal tar produced annually are used, and this
also allows for environmental issues to be mitigated.
However, due to difficult material supply and high early investment
costs, as well as technical difficulties, it was difficult to enter the
market and Korea relied purely on imports due to a lack of a
manufacturer. POSCO has sold coal tar without processing until now, but
expects approximately five times more in profit by producing and
selling needle coke.
Also, by producing and supplying needle coke in Korea, an import
replacement effect of 700 billion KRW is expected annually, contributing
to the global competitiveness growth of Korea`s carbon material
industry.
The needle coke factory will have an annual production scale of
100,000 tons, built on a 226,000? plot of land in Gwangyang City`s
Donghoan, scheduled for completion in 2014. POSCO, especially through
technical cooperation with Mitsubishi Chemical, plans to produce premium
quality needle coke which is currently only produced by six companies
globally.
CEO Chung Joonyang said at the ceremony, ``Through cooperation with
Mitsubishi Corporation and Mitsubishi Chemical, which are globally
leading companies in the coal chemical field, we will contribute in the
development of the industry ecosystem and produce the world`s best
premium level needle coke.``
Moving forth with the start of needle coke, POSCO will produce
resources out of steelworks by-products and continually find high value
added businesses to find direction to grow as a global carbon material
specialized company.
Yena Park mela@posco.com
(Data=New Material Business Division)
