POSCO completed the construction of a 345 MW-level LNG power plant at the Pohang Works on January 17. The company expects this accomplishment to be the first grand step in advancing into the energy industry, one of the company's target fields under its mid-term development plan. From its inception, the company has continuously exerted a variety of energy conservation efforts, including the operation of a power plant using byproduct gasses to supply electricity for steel making. On the basis of such energy-related technology, experience, and the infrastructure it has established, the company is well positioned for a smooth entry into the energy industry. Other preparations include the acquisition of the Gwangyang LNG power plant and construction of the LNG receiving terminal.POSCO anticipates that the experiences it will gain from operating the just constructed LNG power plant, and the one established at the Gwangyang Works last March will pave the way for the company to penetrate the private LNG power generation business sometime in the future.
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