South Korea-based steel producer Kobe Steel Ltd has announced that it plans to invest approximately $16.4 billion to increase the production capacity of its steel powder plant in Takasago, Hyogo Prefecture in western Japan.
According to the company statement, the production capacity of the plant will increase to 110,000 mt per year, from its current capacity of 96,000 mt. The recommissioning is scheduled for the April-June quarter of 2021.
Kobe Steel’s steel powder products are mainly used in powder metallurgy to make automotive sintered parts such as engine parts and transmission parts. In the steel powder field, Kobe Steel estimates that it has nearly a 50 percent share of the domestic market, making it the top producer in Japan.