Hyundai Steel begins construction of speciality steel production factory in South Korea
New factory will help Hyundai Steel to cater to the increasing needs of automakers
South Korean steel-maker Hyundai Steel began construction of a speciality steel manufacturing factory in South Korea yesterday (8 April), reports JoongAng Ilbo. The new factory is located inside the company's existing Dangjin Steel Mill in South Chungcheong province. Construction of the new factory is expected to be completed by 2015 and the plant will have an initial production capacity of 1 million tonnes of steel. The company already operates a speciality steel factory in Pohang, North Gyeongsang, with an annual production of 500,000 tonnes.
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