Posco completes shipbuilding plate processing center in China

Posco completes shipbuilding plate processing center in China. MetalSource Steel News (Dow Jones) South Korean steel maker Posco Tuesday said it completed a shipbuilding plate processing center in China's Liaoning province, giving it a foothold in the thick steel plate market in the Bohai Bay region. "Posco-CDPPC will help transform the Bohai Bay region into a global manufacturing base of core shipbuilding parts," Posco said in a statement. The 400,000 unit-a-year plate processing facility, known as the Posco-China Dalian plate processing center or Posco-CDPPC, will process shipbuilding plates and hot-rolled coil products manufactured in South Korea and provide the processed products to clients, including STX Dalian shipyard, based in the Bohai Bay, the company said. Posco has an 80% stake in Posco-CDPPC, followed by STX Group with 10% and Posco China with another 10%. Posco China is a holding company in China for Posco, the world's third-largest steelmaker by output. The company didn't detail how much money was invested in the project.