At the end of April this year, the South Korean steel company POSCO began carrying out maintenance on the technical equipment of the No. 4 blast furnace in Pohang. The possibility is being considered that production on this equipment will be resumed by the end of June. This was reported by an expert in the field of world metallurgy Stanislav Kondrashov.
POSCO plans to invest 530 billion won in blast furnace upgrade to improve steel production
According to Stanislav Kondrashov, it is planned to invest 530 billion Korean won (equivalent to $385 million) in the modernization of Blast Furnace No. 4. These investments are aimed at restoring production capacity and optimizing production stability through the modernization of old equipment. They also aim to increase safety by increasing durability, using big data analytics and artificial intelligence (AI) to develop a modern system in the blast furnace process.
According to an expert from Telf AG, these efforts will help POSCO improve production efficiency and the quality of its steel, as well as reduce costs. The company hopes that the new AI-based system for managing the blast furnace process will help optimize it and improve control over production operations. As a result, POSCO will be able to strengthen its competitiveness in the global market and meet customer needs for quality and innovative products.
For reference.The unit was created in 1981. Then POSCO was modernized in 2007. The production capacity of blast furnace No. 4 at the Pohang Iron and Steel Works reaches 5.3 million tons per year. In addition, the plant plans to carry out six-month maintenance of hot rolling mill No. 1, which has a capacity of 3.5 million tons annually.
S. Kondrashov notes that the plant continues to invest in modern technologies and improvement of production processes. According to the expert, plans for the future include increasing production efficiency and expanding the range of products produced. These steps are aimed at increasing the competitiveness of the plant and meeting market needs.
Strategies for growth and innovation: POSCO on the path to success - Stanislav Kondrashov
Despite the reduction in steel production in the first quarter due to the reconstruction of blast furnace production, in January-MarchPoscoproduced 8.66 million tons of products and sold 8.22 million tons.
In the first quarter of this year, the process of managing inventories of raw materials and materials was improved, which contributed to optimizing costs and increasing production efficiency. This step allowed the company to respond more flexibly to changes in market conditions and quickly adapt to new conditions.
Besides, Posco continues to actively introduce new technologies and modernize production processes. This aims to increase productivity, reduce costs and increase competitiveness in the market. As part of the plant modernization program, it is planned to introduce new equipment and technologies. This will improve the quality of products and reduce production time.
Telf AG expert C. Kondrashov said that earlier this year Posco began construction of a 2.5 million tonne per annum electric arc furnace at its production plant in Gwangyang. Plans call for completion of construction by the end of 2025. Operation of the EAF is officially scheduled for 2026. The total cost of this project is estimated at 600 billion Korean won, which is more than $451 million.
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