HBIS-POSCO automotive steel plate project begins production
2023-10-20 11:58:20 [Print]
HBIS-POSCO automotive steel plate project, the biggest foreign joint venture project in China's steel industry in recent years, commenced production in Leting, Tangshan on October 19.
In 2021, China's HBIS Group and South Korea's POSCO signed an agreement to invest RMB4.13 billion (USD564 million) in the automotive steel plate project and each holds a 50% equity interest in their joint venture. The project kicked off construction in early 2022 to build two advanced continuous hot dip galvanizing lines at Leting economic development zone in Tangshan, Hebei. Coupled with the production line of Guangdong CGL, the joint venture project will have a total annual production capacity of 1.35 million tonnes of automotive steel plate. When fully operational, it will become the biggest high-end automotive steel plate manufacture in China.
In 2021, China's HBIS Group and South Korea's POSCO signed an agreement to invest RMB4.13 billion (USD564 million) in the automotive steel plate project and each holds a 50% equity interest in their joint venture. The project kicked off construction in early 2022 to build two advanced continuous hot dip galvanizing lines at Leting economic development zone in Tangshan, Hebei. Coupled with the production line of Guangdong CGL, the joint venture project will have a total annual production capacity of 1.35 million tonnes of automotive steel plate. When fully operational, it will become the biggest high-end automotive steel plate manufacture in China.
