Posco, the South Korea based steel manufacturer, is expected to buy 90 per
cent stake in Vietnam's Asia Stainless Corporation (ASC) and build a plant in
India.
Posco proposes to set up a galvanised-steel plate factory in western India
with a capacity of 450,000 tpa and is likely to begin production in 2012.
According to sources, ASC has a capacity of 30,000 tpa and plans to expand it
to 85,000 tpa by 2010. Posco is also expected to take control of a stainless
steel unit of Taihan Electric Wire Co.
At present, Posco's crude stainless steel capacity is three million tpa while
its cold-rolled stainless steel capacity is 950,000 tpa.
Also See:
Posco plans
Rs.4,800 crore processing unit in Maharashtra (06-Feb-09)