POSCO completes HDG plant in India

South Korean steelmaker POSCO has completed the construction of its first steel manufacturing plant in India, located in Maharashtra, according to media reports.
 
The new steel mill worth $240 million will produce 450,000 mt of hot dip galvanized steel (HDG) plates per year for the automotive and home appliance industries. While HDG plates will be sold to local markets in India and shipped to other countries, raw materials for the plates will be supplied from POSCO's steel plant in Gwangyang, South Korea.
 
Meanwhile, POSCO is still waiting for clearances for the steel mill planned to be built in Orissa state, while the company is also building a 300,000 mt per year electric steel facility and 1.8 million mt per year cold rolling mill in India, scheduled to be completed in October 2013 and June 2014, respectively.
 
The South Korean steelmaker also announced last week that it has opened its third automotive sheet processing center in China in Jiangsu Province, with another new processing center specializing in galvanized steel sheets and steel alloy sheets scheduled to open in Foshan in China's Guangdong Province at the end of this year.