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S KOREA'S POSCO-SEAH BREAKS GROUND FOR PIPE PLANT IN U.S.
SEOUL, March 3 Asia Pulse - POSCO, the world's fourth-largest steelmaker, said Sunday it has broken ground in California for a plant that will produce up to 270,000 metric tons of steel pipes annually for transporting gas and petroleum.
The US$129 million joint project -- spearheaded by POSCO; SeAH Steel, South Korea's leading steel pipemaker; and US Steel, America's largest steel producer -- to make American Petroleum Institute (API)-certified steel pipes is to be completed by April next year, and will be fully operational by the following year, a POSCO spokesman said.
The trilateral project is the second-largest of such ventures in California, following USS-POSCO Industries, a joint venture between POSCO and US Steel that was established in 1986 to produce cold-rolled and galvanized steel.
POSCO and US Steel each have a 35 per cent stake in the new mill, named the "United Spiral Pipe, LLC," while SeAH holds the remaining 30 per cent.
"The demand for API-certified steel pipes and tubes is growing internationally," ...
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Source: HighBeam Research, S KOREA'S POSCO-SEAH BREAKS GROUND FOR PIPE PLANT IN U.S.