South Korea-based
Hyundai Steel Corp. has announced that it will invest KRW 3.26 trillion ($2.9 billion) to build its new blast furnace which will have a total annual
production capacity of 4 million mt of
crude steel.
In 2010,
Hyundai Steel commissioned its No.1 and No. 2 blast furnaces boasting a 4 million mt annual
production capacity each. The new blast furnace is expected to be put into
production in September 2013.
Following the commissioning of the No. 1 and No. 2 blast furnaces,
Hyundai Steel has an annual
production capacity of 6.5 million mt of hot rolled coil and 1.5 million mt of
shipbuilding plate. After the new blast furnace is launched, the company's annual
production capacity of thick
plate will exceed 1.5 million.