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Biz News Korea(Eng)
POSCO to double output of advanced electrical steel to 160,000 tons per year
- Collected
- 2017.02.21
- Distributed
- 2017.02.24
- Source
- Go Direct
POSCO chairman Kwon Oh-joon delivers a congratulatory speech during a ceremony to mark the completion of a new electric steel plant.
A ceremony marking the completion of the new facility for hyper non-oriented (Hyper NO) electrical steel was held on Monday at its central steel mill in Pohang some 370 kilometers southeast of Seoul. The ceremony was attended by POSCO chairman Kwon Oh-joon and some 100 representatives from suppliers and customers, the company said.
Hyper NO products are widely applied to make drive motors in eco-friendly vehicles, high-end household appliances promising high energy efficiency such as vacuum cleaners and refrigerators as well as large industrial generators..
The company said its capacity for hyper NO steel will double to 160,000 tons per year following the ramp-up. This capacity is enough to produce up to 2.6 million motors for electric vehicles.
POSCO said the global demand for high quality electric steel will increase from 800,000 tons in 2016 to more than 1 million tons in 2020 in line with increasing rollout in eco-friendly automobiles and high-efficiency electronics.
Earlier, the company retooled its second electric steel plant in the Pohang steel mill to produce advanced steel, while its third electric steel plant is equipped with facilities for heat processing and surface oxide removal. The steel mill will considerably cut down on the production of ordinary steel to instead increase output of Hyper NO.
By Moon Ji-woong
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