OREANDA-NEWS. March 13, 2014. POSCO became the final winner of a bid held by Shinsegae E&C to supply H-type steel and thick plate to Dongdaegu Multi-Transfer Center Construction.

Shinsegae E&C opened selective bidding for 32,000 tons of H-type steel and 3,000 tons of thick plate with POSCO and Hyundai Steel Co., Ltd as appointed contractors. Hyundai Steel Co., Ltd is the largest H-type steel producer, leading the H-type steel market and taking this into account, theproject represents a great dealto POSCO.

Theproject is scheduled for completion in 2016 and is a mega-scale project to constructKorea?s first private capital-invested multi-transfer center with 7 stories belowground and 10 above. Total working expenses is expected to reach 645 billion won.

Once construction is completed, themulti-transfer center where the DongdaeguKTX Station, Intercity Bus Terminal, and subway station are all located, will grow to bean important traffic center and landmark forDaegu and the Gyeongbuk region, particularly when the planneddepartment store, aquarium, multiplex, convention center and themed park are all built by Shinsegae.

Inthe beginning, POSCO was not qualified forthe project because it was designed to use RH-beams. However, the POSCO Steel Building Materials Marketing Team and RIST Steel Structure Research Center worked together to change the design to useBH-beams and proposed a cost-saving solution with the use of high-strength HSA800 steel material. As a result of these dedicated efforts, Shinsagae selected POSCO.

In the meantime, POSCO plans to enhance collaboration with the affiliated Research Institute of Industrial Science & Technology (RIST) and other subsidiaries involved to win more large-construction contracts while also establishing a total package sales process to discover new business models and create synergy with subsidiaries.