OREANDA-NEWS. June 01, 2012. POSCO has established manufacturing and supplying systems of high-quality automobile steel plate around the world to accommodate emerging markets where the automobile industry is rapidly growing.

POSCO completed a Continuous Galvanizing Line (CGL) in the state of Maharashtra located in the western region of India. The line with 450,000 tons of annual production capacity will produce Galvanized Steel (GA) and Galvannealed Steel (GS) which are used as automobile steel plates and parts of an automobile as well as home electronics, and will sold them to India and overseas markets. Materials necessary for product manufacturing will be supplied by Gwangyang Steelworks.

With the completion of the CGL, POSCO expects to provide the world`s best-quality products with the best services, greatly satisfying the demand of global automobile companies.

At the CGL inauguration event, about 270 people attended including POSCO CEO Chung Joon-yang, Korea Ambassador to India Kim Jung-keun and personnel of local company clients such as Volkswagen.
POSCO CEO Chung Joon-yang said in his commemorative speech, ``Through the production of high-quality automobile steel plates and home electronics steel plates, POSCO Maharashtra will play a part in helping Maharashtra to become a global core base for related parts of the automobile industry.``

In India which was globally ranked 9th in automobile production back in 2008, global automobile companies such as Toyota, Honda, General Motors (GM), Ford, and Volkswagen recently entered the market with forecasts of becoming another arena of intense competition following China. Maharashtra in particular is a hub of India`s automobile industry, where there are leading automobile and auto parts supplying companies such as Volkswagen and GM, Tata Motors, Mahindra & Mahindra, and Bajaj Auto. In addition, Maharashtra was selected as the best state of India to invest due to its high level of infrastructure with great road system and human resource.

The Vile Bhagad Industrial Complex of Maharashtra where the CGL is located approximately 120? away from Mumbai, the capital of the state Maharashtra, which is one of India`s largest industrial centers.

Along with the completion of this CGL, POSCO is also constructing a cold-rolled steel factory and an electric steel plate factory each scheduled for completion by 2014 and 2013 respectively.

Additionally, POSCO is on the project of a steel mill to secure both materials and the market, and to take business opportunities in India which has high growth potential. POSCO plans to complete manufacturing process of steel mill by establishing factories where upper-stream such as plating and cold-rolled is done, and then by linking these with the ones of down stream such as iron-making and steel-making.