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News

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Corporation POSCO completed construction of a new plant for the production of stainless steel in Vietnam

PohangIronandSteelCompany (South Korea) is preparing for the commissioning of the new plant at the facilities of the corporation which management expects to produce 150 thousand. Tonnes of cold-rolled stainless steel. On completion of the construction of an industrial complex, located in the south of Vietnam (near Ho Chi Minh City), last week told reporters the representatives of the South Korean company. The project, which cost POSCO in $ 130 mln., Has been implemented in the framework of an extensive investment program to expand the corporate sphere of influence in the market of Southeast Asia.

One of the criteria that influenced the decision to expand PohangIronandSteelCompany management portfolio of production assets in Vietnam, served as the conclusion of analysts, according to which the demand for stainless steel in the market of the state in the coming years will grow rapidly. According to specialists, the needs of the domestic market of Vietnam in the next 3−4 years will grow by one third: from the current 250 thousand tons to 330 thousand tons per year… «We not only provide consumers with high-quality stainless steel in this country, but also made significant in the treasure to the development of Vietnam's economy," — commented news Chung Joon Yang — Executive Director PohangIronandSteelCompany.

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