POSCO and Tsingshan Launch New 2 Mt Stainless Steel Project in Indonesia

3 octobre, 2025 par
Administrator


POSCO (South Korea) and Tsingshan Holding Group (China) have agreed to build a new stainless steel plant in the Morowali Industrial Park, Sulawesi, Indonesia.

The new facility will have a 2 million mt annual capacity, nearly equal to South Korea’s entire stainless steel production, signaling a major strategic shift for POSCO.

Key project details:

  • Construction could begin as early as 2026.

  • POSCO investment: over KRW 1 trillion (USD 708.3 million).

  • Ownership: POSCO will hold 44.1% of PT Xinheng Metal Indonesia, while Tsingshan’s affiliate retains 55.88%.

  • The joint venture will oversee construction and operations.

This move follows POSCO’s sale of its 1.1 million mt Chinese stainless mill to Tsingshan in July 2025, signaling a strategic realignment toward Southeast Asia. POSCO already operates Krakatau POSCO, a 3 million mt integrated steel mill in Indonesia. The new project will solidify POSCO’s regional presence and strengthen its stainless production base.

VietnamSteel by Hoa Sen Group

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