South Korea’s Posco has begun construction of a new steel sheet plant in Thailand in response to rising demand from the country’s automotive industry.
Posco Coated Steel (Thailand) is spending US$300m on a new continuous galvanising facility in Rayong [an auto production hub home to Ford, Mazda, BMW, Mini, GM, Suzuki and MG assembly plants – ed] with completion scheduled for June 2016. It will have an annual capacity of 450,000 tonnes.
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The group has global capacity of 1.65m tonnes of automotive steel sheets, split between South Korea, Mexico, China and India.
The Thai facility will lift this capacity to 2.2m.
