# Posco and HBIS form $600M JV for automotive steel plant in Tangshan

Posco and HBIS Group signed an agreement to form a 50:50 joint venture, investing a total of $600 million to build a 900,000-tonne galvanized steel sheet plant in Tangshan, Hebei, China. Construction starts January 2022, completion by end of 2023.

- Type: Acquisition
- Announced: 2021-06-29
- Where: Tangshan, Hebei, China, China
- Value: $600.0M
- Status: announced
- Capacity: 900,000 tonnes per year
- Products: galvanized steel sheets for automotive
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

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

## Sources

- [en.steelhome.com](https://en.steelhome.com/2021/06/29/n2126580.html), 2021-06-29: "From our collaboration with HBIS Group we plan to reinforce our position as the most competent automotive steel sheet supplier in China, where it has the world’s biggest market for automotive steel sheets."

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