South Korea's second largest steel producer Hyundai Steel has announced that it will launch its planned hot rolled coil capacity expansion project at the end of this week. Accordingly, Hyundai Steel's annual capacity of HRC will increase by 2 million mt to 10.3 million mt by 2013.
Hyundai Steel plans to start its capacity expansion project with the upgrading of hot rolling equipment at its Dangjin plant in Seoul from February 11 to February 25, following which it will gradually expand the flat steel output capacity at Dangjin.
Hyundai Steel stated that during the upgrading work in question its HRC output would see a slight decrease, but would not influence the planned annual output volume. Meanwhile, Hyundai Steel also plans to buy a roughing mill and a reheating furnace for its Dangjin facilities.
The overall HRC capacity expansion project is expected to be completed by June 2013.
Hyundai Steel to launch 2 million mt HRC capacity expansion this week
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