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Posco to add another Chinese plant in Shenyang
Shanghai, September 9 (Gasgoo.com) Pohang Iron and Steel Company (Posco), South Korea's biggest steelmaker, said Tuesday that it plans to set up another automotive steel processing plant in China to meet growing demand in the country, reports Yonhap news agency.
The company said in a statement that the plant is expected to be built in the Shenyang city and when completed by June next year, it will be able to process 170,000 metric tons of steel a year.
It will be Posco's sixteenth steel factory in China. Further details regarding the investment are yet to be revealed.
China is expected to produce around 10 million vehicles this year. Last year, Chinese automakers produced 9.36 million units.
The company said in a statement that the plant is expected to be built in the Shenyang city and when completed by June next year, it will be able to process 170,000 metric tons of steel a year.
It will be Posco's sixteenth steel factory in China. Further details regarding the investment are yet to be revealed.
China is expected to produce around 10 million vehicles this year. Last year, Chinese automakers produced 9.36 million units.
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