Hyundai Steel Starts Up South Korean Blast Furnace

Hyundai Steel Co. held a grand opening furnace 'lighting' ceremony at its new integrated steel mill in Dangjin, South Korea.

The ceremony marks the completion of Hyundai Steel's No. 1 blast furnace, which has an annual capacity of 4-million tons. The company is aiming to complete its No. 2 blast furnace by early 2011, to reach capacity of 8 million tons a year.

The investment cost around $5 billion.

Hyundai Steel said the construction of the blast furnace was completed on-schedule, finished in just three years since the groundbreaking ceremony, which is one of the shortest periods worldwide for construction of such a large furnace.