Korean POSCO's expansion schedule for 2003 in China

Korean POSCO’s expansion schedule for 2003 in China

As previously reported in SteelOrbis, major mills in China are in an effort to expand their steel production facilities due to the incredibly increasing economic growth in the country. South Korean steelmaker POSCO, one of the major mills in China with four downstream steel plants, already has an annual capacity of 320'000 tons of galvanized steel sheets, 140'000 tons of stainless steel sheets and 100'000 tons of color coated steel sheets. In order to be able to meet the increasing demand for steel products in China with its $17million expansion project for its Shunde subsidiary, POSCO announced that, added to their 100'000 ton galvanized sheet production, they are planning to increase its annual capacity by 150'000 ton. Electrical steel sheet production will account for 100'000 tons, while color coated sheet production will account for 50'000 tons of this amount. Upon the completion of this expansion project, POSCO is looking to finish establishment of color coated steel facilities in Dalian with a 100'000 ton annual capacity by the end of this month and a cold rolling mill for stainless steel with an annual capacity of 140'000 ton in Sptember 2003 in its Zhangjiagang subsidiary. Moreover, in April 2003, it is scheduled to start building of a cold rolling mill for stainless steel with an annual capacity of 150'000 ton in Qing Doa.