South Korean steelmaker POSCO and Chinese steelmaker Hebei Iron & Steel Group (HBIS) have commissioned Hagang Pohang steel plant in Tangshan, Hebei Province, a joint venture which was established to produce automotive steel, according to media reports. The factory had been under construction since January 2022.
The plant has an annual hot dip galvanized (HDG) steel capacity of 450,000 mt. The companies are also constructing a second factory in Tangshan with completion planned for May 2024. The second factory is expected to boost Hagang Pohang’s annual production capacity to 900,000 mt.
In addition, 450,000 mt of HDG capacity in Shunde in Guangdong Province will also be included in the joint venture, creating a total of 1.35 million mt of HDG capacity annually, as SteelOrbis previously reported.