Hyundai Steel Plans to Construct No.3 Blast Furnace

Hyundai Steel, South Korean major steel maker, plans to start construction of no.3 blast furnace, which planed t o start construction in 2015. The firm considers constructing no.2 plate mill as downstream of no.2 blast furnace. The firm has 3 blast furnaces which is effective inner cubic at 5,250 cubic meters, and the capacity of crude steel output at 12 million tones per year. The firm supplies steel sheet for automobile and shipbuilding to Hyundai Motor group, which alternates import steel products. Mr. Woo, Yoo Cheol, President & CEO, said the firm already acquired ground for no.3 blast furnace near no.2 blast furnace, and is proceeding approval and license, while didn’t decide construction of no.3 blast furnace.

Mr. Mong-Koo Chung, Chairman & CEO, has the firmest resolve to increase the capacity of crude steel output to 12 million tones per year, and get going construction of no.3 blast furnace.

Mr. Woo said the firm didn’t decide order of no.3 blast furnace to Paul Wurth, engineering maker in Luxembourg which set no., 2 blast furnaces.

Mr. Woo plans to mull investment for raw material, and pointed out stable procurement is more important. The firm had been focused on stable production of integrated iron works.

Hyundai Steel started the operation of no.2 blast furnace on November 23th, which increases operation ratio early, and aims production at 8 million tones in 2011. The firm produces hot rolled coil at 6.5 million tones per year and supplies it of 33% to Hyundai Kia Motor for automobile. Hyundai Steel produces plate at 1.5 million tones, and supplies it of 1 million tones to shipbuilding.