POSCO, South Korea's leading steelmaker, has begun construction on its second plant in Tianjin, local reports said on 5 April 2010.
POSCO advanced into the Tianjin Economic-Technological Development Area in 1994 and currently operates a factory with an annual production capacity of 120,000 tons.
The steelmaker held a groundbreaking ceremony Monday for the new plant, which will produce sheets used in the manufacture of automobiles. Construction started on Tuesday last week, according to the reports. The facility is expected to provide an additional annual capacity of 120,000 tons.
Tianjin, China's sixth largest cit, has been rising as an auto industry hub, as Chinese and other global automakers and car parts manufacturers open facilities there.
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