In its statement regarding the order, Siemens said that it is part of a consortium for the project led by Japan's Sojitz Corporation, and also including South Korea's Hyundai Heavy Industries.
The annual production of the new plant, which will be built at Dongkuk Steel's Dangjin works, is expected to be 1.5 million mt, thereby increasing the company's total plate production capacity for shipbuilding, pipe making and construction to four million mt per annum. At the new plant it will be possible to roll plates with thicknesses of between 4.5 and 150 mm and with widths of up to 4.9 meters.
Production is scheduled to commence at the end of 2009.