South Korean steel giant POSCO has recently said that it started the construction of its third silicon steel-processing plant at POSCO-IPPC in Hyderabad, Pashamylawal industrial complex, India, on April 22. The upcoming production facility will have an annual capacity of 24,000 mt.
POSCO's first silicon steel-processing plant opened in December 2006 with an annual production capacity of 130,000 mt, while the second was completed in March 2009 in the industrial complex near Mumbai with an annual production capacity of 120,000 mt.
Scheduled to be completed in August this year, POSCO's third plant will feature master coil-cutting equipment such as slitting and cut-to-length lines.
POSCO expects the newest facility to help meet the growth of production and sales of grain-oriented silicon steel in the area of the Indian state of Andhra Pradesh. It also expected to serve as a firm base for the growth of silicon steel products sales in India.
On the other hand, SteelOrbis has been informed that today, May 2, POSCO received the final official approval to build a giant $12 billion steel plant in India's Orissa state. The final approval was accorded by the state government for the diversion of 1,253 hectares of forest land in favor of POSCO.