South Korea-based special steelmaker SeAH Besteel plans to build a special alloys steel plant in the US in order to cater to growing demand and to increase its presence in many local industries in the US such as aerospace, defense, and space, according to local media reports in South Korea.
Accordingly, the board of directors has approved the plan to invest about KRW 213 billion ($156.7 million) over the next few years for the construction of the plant, which will have a production capacity of 6,000 mt per year. Also, the South Korean company will establish a new subsidiary under the name of SeAH Super Alloy Technology (SST) for this purpose.
Construction of the plant is scheduled to be completed in 2026.
Thanks to its technical characteristics, special alloys steel can be exposed to rapid temperature changes and high temperatures, making it a value-added product compared to carbon alloy steel and stainless steel. This way, SeAH Besteel will not only be able respond to the needs of the abovementioned industries, but also to power generation and petrochemicals.
