10,739.57 TRY BIST 100 BIST 100
4.48 CNY CNY CNY
35.02 EUR EUR EUR
32.21 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
41.91 TRY Interest Interest
83.24 USD Fossil Oil Fossil Oil
31.46 USD Silver Silver
5.05 USD Copper Copper
118.65 USD Iron Ore Iron Ore
382.00 USD Ship Dismantling Ship Dismantling
2,502.67 TRY Gold (gr) Gold (gr)

POSCO to make major investment to replace blast furnaces

POSCO is preparing to invest 530 billion won (383 million USD) to replace old facilities at the 4th blast furnace at Pohang Steel Plant in Gyeongbuk. This investment, which aims to establish a smart blast furnace system using artificial intelligence (AI), aims to make the company's production processes more efficient.

POSCO to make major investment to replace blast furnaces

The construction process, which started with a 'Yeonwajeong Ceremony' held on the 29th of the month, was carried out to celebrate the beginning of the construction of refractory bricks, the main material of the blast furnace.

This means the number of blast furnaces has been increased for the third time. Renovation works are generally carried out every 15 years and the performance of blast furnaces is improved in this process.

The project will focus on rehabilitating old facilities, increasing durability and creating a smart blast furnace system using big data and artificial intelligence. It is planned that these works will last 125 days until the end of June.

According to POSCO's statement, a total of 378,000 people will be employed during the construction process, which will contribute to the revival of the local economy.

By engraving various wishes on the refractory bricks, the participants expressed their hopes for the successful operation of the No. 4 Blast Furnace and the sustainable development of POSCO.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Saudi Aramco signs major contracts with local pipe manufacturers

Tuesday, May 21, 2024

WIN EURASIA 2024 Energy, Electrical and Electronic Technologies Halls are sold out!

Friday, May 10, 2024

UK steel prices witnessing a decrease

Monday, May 20, 2024

SeAH Group to construct special alloy steel plant in U.S. for aerospace and defense

Monday, May 20, 2024

The economic impact resulting from the tragic demise of Iranian President Ebrahim Reisi

Monday, May 20, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now