Korea’s POSCO to build US$361m steel mill

South Korea’s POSCO Co Ltd said on Friday it plans to build a US$361 million plant in Vietnam for the production of cold-rolled steel.
The plant, which is scheduled to start operating in late 2009, will have an annual output capacity of 700,000 tonnes.
POSCO, the world’s fifth-largest steel maker, said that if the Southeast Asian market grows, the company will build a 3 million-tonne hot-rolled steel plant in Vietnam and expand the capacity of the cold-rolled steel plant to a 1.5 million tonnes.

 

Category: Business