South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced that it has completed the construction of its first automotive steel plant in Thailand, with an investment of $300 million. The plant has a continuous galvanizing steel sheet line with an annual output capacity of 450,000 mt.
The plant will supply steel sheet for Toyota, Nissan, Ford and other car manufacturers that are operating in Thailand.
According to POSCO’s statement, Thailand is the largest automobile producer in Southeast Asia, accounting for more than 50 percent of the automobile production capacity in the region.