Dongkuk Steel aims to produce 10 mln tons by 2015

SEOUL, May 12 (Yonhap) -- Dongkuk Steel Mill Co., South Korea's No. 2 steelmaker,
said Wednesday it is pushing up its annual production target to 10 million tons
by 2015.
Earlier in the day, the steelmaker started operating its third plant in the
southwestern coastal city of Dangjin, about 120 kilometers southwest of Seoul,
which has an annual production capacity of 1.5 million tons of steel plates for
ships.
The operation of the plant has increased the company's overall annual capacity to
4.4 million tons of ship steel, the company said.
Dongkuk Steel has been producing ship steel at its two plants in Pohang, about
375km southeast of Seoul.
In April, the steelmaker started work on a plant with an annual production
capacity of 6 million tons of steel with Brazil's Vale SA, the world's biggest
iron-ore producer.
The plant will be built in the northeastern state of Ceara in the South American
country. The cost of the project is estimated to reach 2 trillion won (US$2.7
billion).
ksnam@yna.co.kr
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