Reportedly, South Korean Posco has expanded its joint venture company Zhangjiagang Pohang Stainless Steel’s annual production capacity to 1 million tons from 800 thousand tons.

Beside, Posco has planned to list the JV Company in Hong Kong or Shanghai after 2013.

After the expansion, Posco’s annual production capacity of stainless steel has reached 3 million tons, including 2 million tons from its South Korean plants and 1 million tons from its Chinese JV company.

Accordingly, the expansion of production capacity has helped Posco become the world’s second largest stainless steel producer.