POSCO Advances Offshore Plant Constructions on Schedule

POSCO of South Korea is progressing constructions and operations of new offshore plants almost on schedule. The continuous galvanizing line (CGL) in India is under test operation which will enter commercial production in May at earliest. The cold rolling mill and the electrical steel plant constructions in India are almost on schedule, too. POSCO plans to add annual 7 million tonnes of crude steel output capacity and 9.1 million tonnes of downstream capacity at offshore plants until 2015 to follow the global steel demand growth.

CSP, a slab making integrated steel joint venture in Brazil co-operated by Vale, Dongkuk Steel and POSCO, has advanced 88% of the land development works. The plant is scheduled to start operation with 3 million tonnes of annual crude steel output capacity in August 2015 as planned. In Indonesia, advance rate of civil engineering works is currently 15% for the joint integrated steel works between Krakatau Steel and POSCO. The operation is expected to commence with 3 million tonnes of capacity in December 2013 on schedule.

As for offshore CGLs, the line in India will start operation with 450,000 tonnes of annual capacity. Another line in Guangdong, China is under construction toward the scheduled commencement in December 2012 with 450,000 tonnes of capacity. In Mexico, No.2 CGL will start in June 2013 with 500,000 tonnes of annual production.

The cold rolling mill in India is now expected to start operation in June 2014 with 1.8 million tonnes annual capacity. The construction is slightly behind of previously scheduled January 2014. The electrical steel plant in India would start in October 2013 with 300,000 tonnes of capacity, earlier than previously scheduled January 2014.