Chung Joon-yang
POSCO Chairman |
By Kang Seung-woo
Staff reporter
POSCO’s effort to enhance its business in Southeast Asian markets is blossoming, as its Vietnamese unit, POSCO VST, will expand its stainless steel production capacity.
The world’s third-largest steelmaker said Wednesday that it will enlarge its capacity from 85,000 tons annually through 235,000 tons in 2013 to eventually 285,000 tons in 2014.
POSCO said in March that it would boost its stainless steel production capacity by 200,000 tons per year in the coming years in order to meet growing demand in the region.
It forecast that demand for steel in Vietnam is likely to rise about 8.7 percent per year until 2020.
In addition, the company will use the second factory of POSCO VHPC (Vietnam Ho Chi Minh Processing Center), completed last week, as a distribution center for other Southeast Asian nations as well as Vietnam.
With the production expansion, POSCO expects to see its business grow and enhance its competitiveness with high-quality technologies and products in Vietnam and Southeast Asian regions.
POSCO has also been in talks to take over Thainox Stainless, Southeast Asia’s largest stainless steel producer, but the process has been stalled due to political instability in Thailand.
POSCO owns a 15 percent stake in Thainox.
It also agreed with Vietnam Oil and Gas Group Monday to cooperate on power generation in the Southeast Asian nation.
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살인 후 119 신고해 '사체 처리해달라' 경악
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