Business Services Industry
SOUTH KOREA: Construction start-up on planned $1,100,000,000 next-generation steel plant, POHANG IRON & STEEL CO. (POSCO) [South Korea] Order #: 097704.
WWP-Business Opportunities in Asia & the Pacific, September, 2004
PROJECT OVERVIEW:
The local POHANG IRON & STEEL CO. (POSCO) recently started-up construction work on what it claims to be a next-generation steel plant in South Korea. Construction plans call for building a mill that will be based on its proprietary Finex technology and have an installed production capacity of 1.5 million tons per year.
The new facility, to be sited in the southeastern port of Pohang, is expected to cost $1,900,000,000 to build. And, project completion is scheduled for some time around the end of the year 2006. The new technology is said to be more efficient than conventional blast furnaces. The company, for that matter, has reportedly invested $362,000,000 since 1992 to develop its new process.
Under the Finex process,...
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