Bluescope Steel plans to expand its capacity
According to recent news in the market, Australian steel producer Bluescope Steel, formerly BHP Steel, is planning to invest more than Australian$100 million ($74.2 million) with the purpose of expanding the capacity of its Wollongong works. The annual capacity of hot strip mill of Wollongong will be increased by 800'000 tons to 3.2 million tons. This project is scheduled to be completed in two years. Bluescope has already invested on some projects. One of them was establishment of a coating line in Sydney, for which the company invested Australian$100 million ($74.2 million). Another investment is as previously reported by SteelOrbis, establishment of a coating line in Vietnam, for which the company invested Australian$160 million ($118.7 million). Another expansion project is planned to commence at its Port Kembla works, which produces 5.1 million tons of crude steel and 2.4 million tons of hot rolled product per annum. Once these projects are completed, the company will reline its No.5 blast furnace, a company official states.