(MENAFN) POSCO Co., South Korea's top steelmaker is about to spend USD216 million in expanding its manufacturing capacity for steel used in high-end vehicles.
POSCO has already constructed facilities that produce advanced high-strength steels (AHSS) on the southern coast.
Its ultimate goal is to expand its total annual production capacity of AHSS by 500,000 tons when the new factories are finished in two years from now.
Furthermore, Steel manufactured from the new facilities will be supplied to many leading carmakers such as General Motors, Volkswagen and Toyota.
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