POSCO officially inaugurates new steel plate plant

On March 28, leading South Korean steelmaker POSCO officially inaugurated its new steel plate plant which has a designed annual output capacity of two million mt, thus increasing its overall annual steel plate output capacity to seven million mt.
 
POSCO stated that, with the completion of the new plate plant in Gwangyang, 423 kilometers south of Seoul, a supply shortage of steel plates will be eased to some extent.
 
South Korean steel plate consumption totaled 11 million mt in 2010, with around four million mt of this volume being imported.
 
POSCO also said that with the new plant POSCO would become the world's leading steelmaker in terms of steel plate production capacity, followed by Japan-based JFE Holdings, with 5.5 million mt.