POSCO, the nation’s top steelmaker, said Monday that it has completed an auto steel plate production plant in China as part of an effort to meet growing demand for the product from global carmakers.
The high-end steel sheet plant in the city of Foshan, Guangdong province, will produce 450,000 tons of galvanized steel sheets annually, according to the company.
Guangdong province is a large economic area with a population of more than 100 million. Major automakers such as GM, Toyota and Honda make up roughly 25 percent of China’s automobile production.
The galvanized steel sheets produced in the plant will be supplied to POSCO’s 11 steel-processing centers across China, and directly to global automakers in China such as Toyota and Hyundai Motor.
POSCO expects China’s annual auto output to top 38 million units in 2020.
