POSCO to build the Gwangyang steelworks No 4 HR mill in India
Last Update: 30/11/2010 12:43:22
POSCO decided to build the Gwangyang No 4 hot rolling mill and a new cold rolling mill in India to increase its supply of hot rolled steel coil to cold rolling steel companies in the country, and assure stable material supply for overseas operations. Gwangyang No 4 hot rolling mill will produce 3.3 million tons of hot rolled steel products per year. Construction is to commence in September 2011 and be completed by January 2014. Slabs, which are materials needed at the hot rolling mills, will be supplied by reinforcing the steelmaking and casting capabilities within Gwangyang. The No.4 hot rolling mill will meet the increasing demand for high quality steel products such as automobile steel plates, oil steel pipes, high strength steel, wide strip steel to cover the deficit in materials for the cold rolling industry in the country, and the left over materials will be exported to overseas subsidiaries and customers in South East and West Asia. Once the No 4 hot rolling mill is completed, it will replace supply of the imported high quality steel from overseas like Japan and establish a strong basis for developing new steel products. The import of hot rolled steel products will continue even after the completion of No 4 hot rolling mill in 2015, and as the supply of materials of cold rolled products for important markets of Asia like India and Vietnam and continuous expansion of overseas market, the demand for hot rolled products is forecasted to increase. Once the No 4 hot rolling mill is completed, the production capacity for hot rolled coil will increase from 23.54 million tons to 26.84 million tons per year.
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