Other States - Orissa   

POSCO to adopt FINEX technology

Special Correspondent

It is expected to reduce the swapping of iron ore

BHUBANESWAR: Steel major POSCO-India on Wednesday announced that it will adopt the newly developed FINEX technology for its proposed 12 million tonne per annum capacity green field integrated steel project in Jagatsinghpur district of Orissa.

This would be the world's first steel mill outside Korea to use FINEX in large scale, the company said in Bhubaneswar.

According to the company, FINEX can better utilise the high-alumina contained Indian iron-ore than the blast-furnace technology. Thus, it is expected to substantially reduce the proposed amount of swapping of iron ore required for its 12 MTPA steel project.

POSCO-India Chairman-cum-Managing Director Soung-Sik Cho said this technology would make the company's steelwork most competitive in Indian steel sector.

The announcement came hours after the company added a new chapter in the world steel making history with POSCO celebrating successful completion of INEX commercialisation plant with a 1.5 million tonne per annum capacity plant in Pohang, South Korea.

According to a company release issue here, the Korean government played a big role in FINEX technology development and commercialisation.

Appreciation

In a message, Chief Minister Naveen Patnaik conveyed appreciation of the success of POSCO's endeavour and reiterated his government's commitment to POSCO-India project in the State.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

`Maidens' sweep annual State film awards
Cuttack-Paradip trains
Boys outshine girls in Plus II examination
Freedom fighter passes away
POSCO to adopt FINEX technology
Row over low voltage problem
`Flaws' in Dhamra port project
Search on for `elusive' top cop
Ravenshaw students make a mark

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu