Posco to ramp up steel plates in India as mill finishedPosco, the world’s third-largest steelmaker, said yesterday it has completed building a plant in India as it targets making inroads in the vast emerging market.
The mill, located in west-central Maharashtra Province, has the capacity to produce 450,000 tons of hot galvanized steel plates per year. Work on the plant started in 2010, Posco said.
The steel plates will be used to make cars and various household goods for consumption in India and other countries, the company said.
The province has car manufacturing plants run by GM, Volkswagen, Tata Motors and Mahindra & Mahindra.
It also boasts one of the best industrial infrastructures on the sub-continent.
Posco said the new plant, its first production facility in India, is located just 120 kilometers from Mumbai, allowing it easy access to one of the largest industrial and commercial centers in the country.
Besides the galvanized steel plant, the steelmaker is in the process of opening a 300,000-ton electric steel plate facility in India by October 2013 and a 1.8 million ton cold-rolled mill in June 2014.
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