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2 clusters · 4 sources · 4 days · First seen 9 days ago · Last updated 5 days ago

POSCO steel production and decarbonization initiatives

Overview

POSCO is advancing its decarbonization and production capacity through international partnerships and infrastructure investments. The company has entered a collaboration with BHP to test the commercial viability of its proprietary HyREX technology, which utilizes hydrogen instead of coal to produce molten iron without carbon dioxide emissions.

In parallel, POSCO is expanding its automotive steel production. This includes a 480 billion won investment in a new galvanized steel line at its Gwangyang Steelworks in South Korea, scheduled for completion in 2028. Additionally, POSCO and Hyundai Steel have commenced construction on a $5.8 billion joint venture electric arc furnace steelworks in Louisiana, USA. This facility aims to produce 2.7 million tons of steel annually by 2029, utilizing technology designed to reduce carbon emissions by approximately 70% compared to traditional blast furnaces.

Entities

POSCO · Donaldsonville · BHP · Hyundai Motor Group · Gwangyang Steelworks

Timeline

5 days ago

[BUSINESS] 3 sources
POSCO expands automotive steel capacity in Korea and US
POSCO is investing 480 billion won to expand automotive steel capacity in Gwangyang, while partnering with Hyundai Steel on a $5.8 billion low-carbon steel plant in Louisiana, USA.
9 days ago

[BUSINESS] 2 sources
POSCO and BHP partner on hydrogen reduction steelmaking technology
POSCO and BHP have signed an agreement to collaborate on verifying POSCO’s HyREX hydrogen reduction steelmaking technology using BHP’s iron ore to advance decarbonized steel production.

Sources

biz.heraldcorp.com · imaeil.com · newstomato.com · techholic.co.kr