Hyundai Steel Co, part of the Hyundai-Kia Automotive Group, on April 8th 2010 celebrated the start of commercial operation of its new integrated steel works with an opening ceremony.
Over 2,500 distinguished guests and staff attended the ceremony, including South Korean President Lee Myung-Bak, Hyundai-Kia Automotive Group Chairman and CEO Chung Mong-Koo and Chairman Roger Agnelli of Brazilian mining company Vale.
The ceremony marks the start of commercial operation of Hyundai Steel’s No 1 blast furnace, which has an annual capacity of 4 million tonnes. The company is aiming to complete its No 2 blast furnace by end of this year to reach capacity of 8 million tonnes a year.
Hyundai Steel said the construction of the blast furnace was completed on schedule, finished in just three years since the groundbreaking ceremony in October 2006, which is one of the shortest periods worldwide for construction of such a large furnace. The plant is located in the coastal town of Dangjin, about 123 kilometers southwest of Seoul.
The No 1 blast furnace, with an inner volume of 5,250 cubic meters, a width of 17 meters and height of 110 meters, is a showcase of state of the art engineering technologies. It is expected to have quality and price competitiveness when the operation gets into full swing at the end of June this year.
More importantly, the No 1 blast furnace employs the latest environmentally friendly technologies, reflecting the eco friendly management philosophy. The environmental considerations have been a priority in the steel works’ design from the very outset, inherently different from other steel works where environmental facilities are installed only after the completion of the factory. The most up to date emission control technologies have been incorporated into the design of the steel plant, allowing it to co exist in harmony with the local community. A prime example of this commitment is the encapsulated raw material processing facility, which prevents iron ore and coking coal dust from polluting nearby communities.
Time Line
2006
October 27 - Ground-breaking ceremony for the integrated steel works
2007
March - Construction of the R&D Center completed
April - Blast furnace equipment supply contract signed with Luxembourg-based Paul Wurth S.A.
May - Long-term iron ore supply contract signed with Brazilian mining firm VALE
December - Signed MOU with Germany’s ThyssenKrupp Steel for technological cooperation
2008 - Sign iron ore supply contracts with companies such as Australia’s Rio Tinto
2010January - Firing’ ceremony of No 1 blast furnace
April 8 - Opening ceremony of No 1 blast furnace and begin commercial operations
November - Firing ceremony of No 2 blast furnace panned
Overview of Hyundai Steel’s Integrated Steel Works
Capacity
HRC – 6.5 million tonnes
Plates – 1.5 million tonnes
Total – 8 million tonnes
Investment
KRW 6.23 billion
Established in 1953, Hyundai Steel Co is the world’s second largest EAF and South Korea’s only integrated steel works built with private capital. Formerly known as INI Steel Co., Hyundai Steel took over Hanbo Steel Co. in 2004, then began building its first blast furnace since October 2006. It now has steel works in Dangjin with the blast furnace, and electric arc furnaces in Incheon and Pohang.
