HBIS and POSCO to invest $600M in automotive steel plate JV in China

HBIS Group and POSCO agreed to invest $600 million in a 50-50 joint venture to produce automotive steel plates in Tangshan, China. The 900,000-ton capacity plant is expected to start construction in January 2022 and be completed by end of 2023.

“The steelmakers will each invest $300 million and take a 50% stake in the joint venture, which plans to start construction of a steel plate plant in Tangshan in January next year.”mnacritique.mergersindia.com

• 1 source
• mnacritique.mergersindia.comSteelmakers HBIS, POSCO to invest $600 million in China auto plates venture | M&A CritiqueJun 26, 2021

Summarized from public sources; check the original articles before acting on it.