Hyundai opens new in-house steel mill
Korean auto manufacturer's own high-tech steelmaking operation heralds the next step towards self-relianceHyundai continues along its upward path to operational independence with the announcement of a new steelmaking plant commencing production.
The facility takes the Korean giant one step further towards becoming the world's first fully integrated manufacturer turning raw materials into cars, giving it unprecedented control over supply and quality of one of its most important source materials
Based in Dangjin, South Korea, the all-new mill is the first in-house steelmaking operation ever opened by an automotive manufacturer. Hyundai calls the US5$ billion operation "the most advanced and modern, eco-friendly integrated steel mill in the world", combining state-of-the-art design and engineering facilities with similarly advanced emission control technologies.
The furnace can produce up to 4 million tonnes of steel a year, the lion's share of raw materials -- up to 11 million tonnes of iron ore and coking coal -- coming from Australian mines. The newly opened furnace is the first of two, with the second due to start operation by early 2011, to achieve capacity of 8 million tons a year.
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