POSCO Finishes Expansion for Stainless Cold Rolling Mill in Vietnam

POSCO of South Korea announced on Wednesday the firm finished expansion at the stainless cold rolling plant, POSCO-VST in Vietnam. The annual output capacity increased by 150,000 tonnes to 235,000 tonnes. The plant expands the capacity to 285,000 tonnes by 2015. POSCO tries to follow growing demand in Southeast Asia through the plant and POSCO-Thainox in Thailand.

POSCO-VST built a rolling mill with annual 150,000 tonnes of output capacity for US$ 130 million. The firm held completion ceremony on Wednesday with 120 attendees. POSCO’s chairman Chung Joonyang said the state of the art mill will supply world class high quality products stably and contributes to Vietnamese economy.

POSCO expects Vietnamese demand of stainless cold rolled flat steel demand increases to 330,000 tonnes in 2015 from current 250,000 tonnes. The firm expects the demand will increase from 750,000 tonnes in 2012 to 950,000 tonnes in 2015. The firm covers Vietnamese and Thai markets with 67% of the demand in Southeast Asia through POSCO-VST and POSCO-Thainox.

The firm launches new cold rolling mill with annual 200,000 tonnes of output capacity in Turkey in 2013. Through the series of investment, the cold rolling products increases to 73% of the hot rolled products from current around 60%. The firm covers the area from South Korea to Turkey through the strategic supply network.