South Korean steel giant POSCO has announced that it will break ground in March on a new continuous galvanizing line (CGL) plant in India with an annual capacity of 400,000 metric tons, and will also begin to lay the groundwork in Indonesia in September for an integrated steelwork plant to be built in collaboration with local state-run producer PT Krakatau Steel.
A press release by the company said that the launching of overseas supply chain management (SCM) units and manufacturing facilities will also continue in the company's efforts to beef up production outside of South Korea. POSCO, which was operating 42 processing centers and distribution units in 12 countries in 2009, will add four more SCM units in 2010 at its key overseas production bases, including China, Vietnam, India and the United States.
The company will complete its second stainless steel plant at POSCO-VHPC in June, which it says will give it a sales foothold in Southeast Asia. Its Turkish processing center in Nilufer, near Bursa, scheduled for completion in July, is expected by the company to enhance sales service for automotive flats products aimed at global carmakers based in the area, such as Ford, Renault and Hyundai.
If its expansion in 2010 goes according to plan, the number of POSCO`s overseas processing centers will increase to 48 locations in a total of 14 countries.