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Hyundai Steel exploring 3 million tonne auto steel plant with RINL - CMD-2019 China(Guangzhou)Int’l Metal
;& Metallurgy Exhibition-metal exhibition
11/28/2018 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo |
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The Telegraph reported that South Korean Hyundai Steel has evinced interest in forming a joint venture with public sector Rashtriya Ispat Nigam Ltd (RINL) to set up a steel plant to produce auto grade steel and a team from South Korea had visited the plant to explore an opportunity to work together. Mr PK Rath, chairman and managing director of RINL, said “It appears that Hyundai wants to set up a flat steel plant because we at RINL are already producing long products. The plant should be of 3-million-tonne capacity as this is the optimum size for a steel plant today.”
Mr Rath said RINL has 3,000 acres of idle space which may be used to set up a new plant. He said “They may be interested in us because RINL is known to be a quality producer. Plus, the land is a big asset to have.”
However, he cautioned that the plans were at a preliminary stage. He said “We will work according to the direction of the Union steel ministry.”
Hyundai Steel, part of the South Korean auto maker, is one of the oldest producer of the alloy in Korea. The company has an annual production capacity of 12 million tonnes.
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