South Korean steel major Posco has partnered with Chinese steel producer HBIS Group to produce and sell automotive galvanised steel sheets, the company declared in a recent statement. Posco and HBIS would be investing $600 million – $300 million each – to build a galvanised steel sheet production plant with capacity of 900,000 t in China’s Tangshan. The two companies have pledged to start construction on the production facility in Jan’22, which is likely to be completed by the end of 2023, the statement issued by Posco stated.
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