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Austrian technology for the best steel in the world

The steel giant POSCO is one of the most competitive steel makers in the world. A 2 million -ton mill for the production of pig iron in South Korea is based on Finex technology of the Austrian company Siemens VAI. 

Siemens VAI Metals Technologies GmbH (Siemens VAI) is a world leader in the field of plant for iron and steel industry. Together with POSCO, Finex process has been developed since 1992 and applied to the industry. The Finex process, in comparison with the blast furnace, allows a cleaner, faster and above all cost-effective way to produce high -quality pig iron.
In 2013 POSCO was selected as the most competitive steel mill for the 4th time in a row by World Steel Dynamics.

This Finex plant in Pohang, South Korea, based on the Finex process, was jointly developed by POSCO and Siemens VAI. The first F- Finex 0.6M plant was put into operation in 2003, driven by its excellent operating results POSCO invested in a larger F- Finex 1.5M plant in 2007. POSCO’s decision for a third Finex plant underlines the commitment to the use of innovative and cost-saving solutions for the production of the finest quality pig iron.
Siemens VAI supplied the basic and detailed engineering service for the core area of the plant such as melter gasifier, fluidized bed reactors and side-plant. The mega-project was completed by supervision services for assembly and initial operation. The third Finex plant is designed for the production of two million tons of pig iron per year, where cost-effective fine ores as well as chiefly none-coking coals are used directly.