South Korean steel giant POSCO has announced that its subsidiary POSCO Vietnam Stainless Steel (POSCO-VST) officially opened its second cold rolling stainless steel mill in Vietnam on March 7. Investment amounted to $130 million for the mill in question, which is located on a site covering 3.9 hectares. The designed annual output capacity of the cold rolled stainless steel is 150,000 mt.
The first stainless steel mill of POSCO-VST, the first such mill in Vietnam, has an annual production capacity of 85,000 mt. With the commissioning of the second mill, POSCO-VST becomes the largest stainless steel producer in Vietnam with a total annual output capacity of 235,000 mt.