POSCO completes construction of Indian plant

POSCO, the world's third-largest steelmaker, said Tuesday it has completed construction of a plant in India that will allow it to make inroads into the vast emerging market.

The mill, located in India's west-central Maharashtra Province, has the capacity to produce 450,000 tons of hot galvanized steel plates per year. Work on the plant started in 2010, POSCO said.

The steel plates will be used to make cars and various household goods in India and other countries, the company said. The province has car manufacturing plants run by GM, Volkswagen, Tata Motors and Mahindra & Mahindra, and has one of the best industrial infrastructures on the sub-continent.

POSCO said the new plant, which is its first production facility in India, is located just 120 kilometers from Mumbai, allowing it easy access to one of the largest industrial and commercial centers in the country.

Besides the galvanized steel plant, the steelmaker is in the process of opening a 300,000 ton electric steel plate facility in India by October 2013 and a 1.8 million ton cold-rolled mill in June 2014. (Yonhap)