Home / News / Ferrous metallurgy / South Korean giants unite for a breakthrough in green metallurgy

South Korean giants unite for a breakthrough in green metallurgy

Ferrous metallurgy

The South Korean brothers Hyundai Motor Group and Posco have signed a memorandum of cooperation in the production of low-carbon steel and key areas of battery production. In particular, Posco Group invests in the integrated steel industry

South Korean giants unite for a breakthrough in green metallurgy

South Korean companies Hyundai Motor Group and Posco have signed a memorandum of cooperation in the production of low-carbon steel and key areas of battery production.

In particular, Posco Group is investing in Hyundai Motor Group's integrated electric arc furnace steel plant in Louisiana, USA, as part of a further transition to low-carbon steel production.

The plant with a capacity of 2.7 million tons of steel per year, estimated at $5.8 billion, is expected to start operating in 2029. The company will produce steel sheet, which will be supplied to Hyundai's key production bases in the United States.

The companies intend to strengthen their competitiveness in the main global markets. Posco aims to become a leading supplier of automotive steel and basic battery materials.

Сomments
Add a comment
Сomments (0)
To comment
Войти с ВК Войти с ФБ Войти с Яндекс
Sign in with:
Войти с ВК Войти с ФБ Войти с Яндекс