POSCO has successfully completed the first phase of the construction of a state-of-the-art eco-friendly silicon steel plant named Hyper No at Gwangyang Steel Works and with this strategic step aims to meet the growing demand from the electric vehicles (EV) and high-tech devices sectors.
Construction of the Hyper No facility, which began in April 2022, required a significant investment of KRW 1 trillion. The facility is designed to reach a production capacity of 300,000 metric tons per year when operating at full capacity. In its current form, the first phase will be able to produce 150,000 metric tons of Hyper No steel per year, with a thickness capacity of up to 0.15 mm. With the completion of the second phase, POSCO plans to reach its target of producing 300,000 metric tons of Hyper No steel per year.
High-efficiency, non-oriented silicon steel sheets play a critical role, especially in the automotive and white goods industries, due to their ability to minimize energy loss and directly impact fuel consumption.
Ongoing investments and expansions are in line with POSCO's broader vision to play a significant role in the global steel industry. The company's global production target of 1 million metric tons by 2030 emphasizes its commitment to sustainable growth and adapting to the changing environment of the steel industry.
By meeting the demand for high-efficiency products, POSCO will play a key role in shaping the future of steelmaking and supporting a broader transition towards sustainable technologies.
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