South Korea’s POSCO fires up first blast furnace in Indonesia
SEOUL: POSCO said on Monday it began operation of its first blast furnace in Indonesia, to tap surging demand for steel in the Southeast Asian country, and expected the plant to make a profit by next year.
The blast furnace is expected to yearly produce 1.8 million tonnes of slab and 1.2 million tonnes of steel plate, South Korea’s largest steelmaker said in a statement.
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