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.
Hyundai Steel to invest $2.9 in its new blast furnace
Tags: Shipbuilding Plate Hrc Crude Steel Plate Flats China Far East East Asia and Pacific Steelmaking Investments Production Hyundai
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