Hyundai Steel fires up 3rd furnace in Dangjin

Park Sae-jin Reporter() | Posted : September 13, 2013, 17:04 | Updated : September 13, 2013, 17:04
Hyundai Steel's blast furnace No. 3 went into operation Friday, which brought the steelmaker's total output capacity to 24 million tons of crude steel per year.

The blast furnace No. 3 in Dangjin, South Chungcheong Province, has an annual production capacity of 4 million tons of crude steel, the steelmaker said.

In addition to the three blast furnaces, Hyundai Steel has electric furnaces, which have a combined production capacity of 12 million tons of crude steel a year.

It means that the company, the country's second largest steelmaker, is capable of churning out 24 million tons of crude steel a year.

Construction of the blast furnace No. 3, which is 110 meters high and 17 meters in diameter, costed 9.9 trillion won (US$9.22 billion), the company said.

As a result, Hyundai Steel will move up nine notches from 20th place in 2010 to 11th in the world in terms of crude steel production capacity. Commercial operation of the blast furnace No. 3 is expected to start later this year, the company said.

The steelmaker, an affiliate of Hyundai Motor Group, will be stable supplier of steel for auto manufacturing for the automotive group, which runs the country's two largest carmakers - Hyundai Motor and Kia Motors.
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