POSCO's new P&O line comes on stream

South Korean steel giant POSCO has announced that it completed the construction of its No.3 pickling and oiling line (POL) in Gwangyang Works on January 19, adding that the POL has already started full-scale operations. The POL, which is expected to produce 800,000 tons a year of high strength interior steel plates for automobile manufacture, will allow POSCO to occupy a more favorable position in the world's automobile steel plate material market. The company also stated that the No.3 POL was constructed at about 50 percent of the total investment cost normally required for the construction of such line. POSCO was able to reduce its costs by actively reusing the facilities abandoned during the rationalization of other plants.