POSCO to Invest KRW480 Billion in New Automotive Steel Plant at Gwangyang Works

MT Newswires Live

Sep 08

POSCO (KRX:005490) said it plans to invest 480 billion won to construct a new 450,000-ton-per-year continuous galvanizing line automotive steel plant at Gwangyang Steelworks in South Korea, according to a Tuesday release.

The South Korean steelmaker POSCO said the new plant will help expand production of high-end steel products, with the facility scheduled for completion in 2028.

The new facility will incorporate artificial intelligence and robotic technologies for steel products and increase its hot-dip galvanized steel production capacity to 4.95 million tons annually.

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