# 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.

- Type: Investment
- Announced: 2021-06-25
- Where: Tangshan, China
- Value: $600.0M
- Starts operating: 2023
- Status: announced
- Capacity: 900,000 tonnes per year
- Products: automotive steel plates
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [POSCO](https://endata.com/companies/8856.md) (partner)
- [HBIS Group](https://endata.com/companies/33829.md) (partner)

## Sources

- [mnacritique.mergersindia.com](https://mnacritique.mergersindia.com/news/steelmakers-hbis-posco-to-invest-600-million-in-china-auto-plates-venture/), 2021-06-26: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.