South Korean steelmaker POSCO has announced that it started construction of a new steel plant in Hebei on January 7 this year, a joint venture with Chinese steelmaker Hebei Iron & Steel Group (HBIS), which was established to produce automotive steel in Tangshan, Hebei Province, China.
The new plant will be put into operation in December 2023, with an expected hot dip galvanized (HDG) steel capacity of 900,000 mt, as SteelOrbis previously reported.
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.