HBIS, POSCO to Boost Steel Supply to China's Automobile Market

Researched by Industrial Info Resources (Sugar Land, Texas)--HBIS Group (Shijiazhuang, China) is setting up a joint venture with POSCO (NYSE:PKX) (Pohang-si, South Korea) to build a plant in Leting (Laoting) County of Tangshan, in China's Hebei province. HBIS and POSCO are leading players in the global steel industry.

The plant is currently slated to be built between from February 2022 and the end of 2023. It is designed to produce 900,000 tons per year of high-end, cold-rolled galvanized steel sheets for automobiles. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for more details.

Industrial Info is tracking more than 450 steel-manufacturing projects across China, totaling more than $141 billion of investment value. Subscribers can click here for a list of related projects.

HBIS is the second-largest steel supplier for China's automotive sector, having produced 7 million tons of steel in 2020.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.