According to report, Posco had started up its new joint venture autosheet processing center in Indonesia as the steelmaker wants to expand the market share for auto-makers in west Indonesia.
It held the open ceremony for No.2 Posco-Indonesia Jakarta Processing Center (Posco-IJPC) located in Karawag, West Java.
The plant's processing capacity is 120,000 tons every year and only supply for auto sheets.
Posco holds 65% of the stake in the new JV and its subsidiary Daewoo International holds 20%. The rest is held by ADR Group, the Jakarta-based automotive components and manufacturer and distributer.
With its No.1 plant of Posco-IJPC, together the total processing annual capacity will be 200,000 tons. The No.1 plant serves the manufacturers like Appliance makers.