Metalnewsnet 18 May ：

It is reported that South Korean steel giant POSCO held a groundbreaking ceremony for POSCO-CDPPC a new plate facility in the Lingang Industrial Zone which is located on Changxing Island at Dalian in China on May 7th 2010.

Mr Lee Jung yong manager of the plate products marketing department said "The operation of POSCO-CDPPC will greatly contribute to the competitiveness of our customer companies through its differentiated services in processing and distribution, as well as to the local economy of Changxing which will develop into China shipbuilding center."

Dalian located in the southern part of Liaodong Peninsula in Liaoning Province is a growing battlefield for global shipbuilders including South Korean maker STX, adding that this is leading to steep growth in demand for thick steel plate products to be used in the production of vessels.

POSCO plans to complete the construction of POSCO-CDPPC and supply major shipbuilding companies with an annual thick plate production of 200,000 tons. Materials will be obtained from POSCO mills in Pohang and Gwangyang. The Gwangyang mill will be completed later this year.

The new facility will ultimately spearhead POSCO`s sales campaign in China, as well as actively meet demand of plates for shipbuilding in the Dalian region, the company expects.

(from steelguru)