POSCO VST, an affiliate of South Korean steel giant POSCO, has finished more than 90% of civil works in construing a new cold-rolled stainless steel sheet plant with the schedule for the completion of the plant by February next year.
POSCO VST plans to finish the installation of all the facilities of the plant this year, which will be capable of producing 235,000 tons of cold-rolled stainless steel sheets per year, if completed.
POSCO VST, which is capable of cold-rolling 85,000 tons of stainless steel at present, plans to install new facilities for the cold-rolling of 100,000 tons and for the annealing of 200,000 tons of them in order to make its inroads into Southeast Asian market on a full scale.
For use at the new cold-rolling facilities at POSCO VST, the Pohang Works of POSCO will supply 100,000 tons of its hot-rolled stainless coils and 50,000 tons of full hard steel sheets per year to POSCO VST. With new cold-rolling facilities to be installed additionally, POSCO VST plans to lift its annual cold-rolled steel production capacity up to 285.000 tons by 2014.