Taewoong Co has begun the construction of a steel plant in the city of Pusan

Taewoong Co, a South Korean company engaged in the production of forged parts for heavy industry, conducted a first stone laying ceremony for the construction of a new steel plant with an area of ​​157,000 square meters at the Hwajeon industrial complex in the city of Pusan, where the company headquarters is located.

The built steel plant will be equipped with an electric stove, a melting stove, an object of vacuum degassing, and a continuous casting machine. Taewoong Co reported on the provision of fire safety declarations of the metallurgical plant in accordance with the requirements of the current legislation. The company representative said that "we will allocate more than 20 percent of our investment funds in the field of environmental protection for the introduction of progressive treatment equipment."

The main products that will be produced at the plant in Pusan ​​include ingots and round blanks. According to the company, the line for round blanks will be able to produce medium and the largest round blanks in the world in size. The plant will also be able to offer foundry forms, cylinders, crane wheels, forged rings, rollers and round rods for steel factories and transporting machines, as well as aluminum and titanium forged rings for the aerospace industry.

The plant, the construction of which is planned to be completed by the end of 2015, will have a bandwidth of 700,000 tons per year. One of the largest competitive advantages of the plant will be the use of the most modern equipment and technologies in the production process, which will minimize any negative environmental impact. In addition, the introduction of innovative developments will make the production of the new plant the most competitive in its sector.