South Korea’s POSCO has begun construction of a new steel sheet plant in Thailand in response to rising demand from the country’s automotive industry.
POSCO Coated Steel (Thailand) is spending USD 300 million on a new continuous galvanising facility in Rayong [an auto production hub home to Ford, Mazda, BMW, Mini, GM, Suzuki and MG assembly plants] with completion scheduled for June 2016. It will have an annual capacity of 450,000 tonnes.
The group has global capacity of 1.65 million tonnes of automotive steel sheets, split between South Korea, Mexico, China and India. The Thai facility will lift this capacity to 2.2 million.
Source – Just Auto
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