UPDATE: HBIS-POSCO automotive sheet JV completes construction

China's leading steelmaker HBIS Group (HBIS) and South Korean steel giant POSCO have officially completed the construction of their automotive sheet joint venture plant in the Laoting county economic development zone in Tangshan, North China's Hebei province, according to HBIS's latest release on October 19.

The cooperation project was first unveiled in June 2021 and started construction in early January 2022, HBIS's release noted. It aims to provide high-quality and 'green' steel material with low carbon, high strength and light weight for high-end brand vehicles and new energy vehicles (NEVs), and some coils for