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POSCO fires up integrated steel mill in Indonesia

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Published : 2013-12-23 19:42
Updated : 2013-12-23 19:42

POSCO CEO Chung Joon-yang (third from left) shakes hands with Indonesian President Susilo Bambang Yudhoyono at a ceremony to mark the successful completion of the steel mill in Cilegon, Indonesia, Monday. (POSCO)

POSCO, the nation’s largest steelmaker, announced on Monday that it has officially begun operation of its integrated steel mill in Cilegon, Indonesia.

The steel mill, with an annual capacity of 3 million tons, is POSCO’s first overseas mill in Southeast Asia, according to the company.

Its blast furnace was lit at an opening ceremony attended by POSCO CEO Chung Joon-yang, Indonesian President Susilo Bambang Yudhoyono, Korea’s Vice Industry Minister Kim Jae-hong and other related officials.

“The last 30 months spent on constructing the integrated steel mill were not easy, but we have managed to succeed thanks to Korea’s technology and Indonesia’s superior human resources,” said CEO Chung. “I am also confident that Krakatau POSCO will accomplish a similar role for Indonesia as POSCO has done for Korea ― provide the foundation for improving the national economy.”

Krakatau POSCO is a joint venture company between Krakatau Steel and POSCO Korea.

Moreover, POSCO has dispatched some of its top employees to supervise the newly constructed integrated steel mill and share its know-how for high-standard production and facility management.

Instead of having to rely on foreign expertise and technology as it did 40 years ago, POSCO managed to build the mill purely from its own capabilities in various fields including construction, energy and information technology, the company stated.

POSCO, by actively pursuing the steel market in Southeast Asia, hopes to establish strong global competitiveness and sustainable growth, company officials have said.

By Kim Joo-hyun (jhk@heraldcorp.com)

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