POSCO is now the world’s No. 2 stainless steel producer, after expanding the capacity of its Chinese stainless steel JV. The company also intends to list the JV in Hong Kong or Shanghai after 2013. Zhangjiagang Pohang Stainless Steel (ZPSS) has completed construction on additional facilities that will allow the joint venture firm to boost its annual production capacity of stainless steel to 1 million tns/yr from 800,000tns/yr. The facility expansion has helped push POSCO from the world’s No. 3 steel firm to the title of the second largest stainless steelmaker with an annual production capacity of 3 million tns; 2 million from POSCO’s plants in Korea and 1 million from ZPSS. The company has also become the first foreign entity in China to produce 1 million tons of stainless steel. The JV between Shagang Group and POSCO was established in 1999 with POSCO holding an 82.5% stake.
