POSCO Expands Industrial Gas Business

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Researched by Industrial Info Resources (Sugar Land, Texas)--POSCO (NYSE:PKX) (Pohang-si, South Korea) plans to invest about 70 billion KRW (US$55 million) to expand its gas storage capacity, as part of an overall expansion of its industrial gas business through 2024.

POSCO currently has 49,000 tons and 36,000 tons of oxygen, nitrogen and argon gas storage at its Pohang and Gwangyang steel mills, respectively. Historically, POSCO has produced oxygen, nitrogen and argon mostly for its own processing.

Industrial Info is tracking nearly US$18 billion worth of active POSCO projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed project reports on the Pohang and Gwangyang expansions, and click here for a full list of active POSCO projects.

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