Posco is preparing to expand production facilities in China for high value added steel products such as stainless steel and colour-coated steel sheets. Increasing demand brought on by rapid economic growth and such events as the Olympics drives Posco’s plans for expansion. Posco held the groundbreaking ceremony of its stainless cold-rolled plant — with projected annual production capacity of 140,000 tonnes — on 19 March in the Zhangjiagang Pohang Stainless Steel Co. Currently, the Zhangjiagang Pohang Stainless Steel Co. produces 140,000 tonnes of stainless cold-rolled steel and 120,000 tonnes of zinc-coated steel plates annually. When expansion of the stainless cold-rolled steel production facility is completed in 2003, it is expected to become the largest stainless steel company in the Jiangsu province. The expanded facility will also aid in the development of other stainless steel consumption industries in China.
