A joint venture between Posco (KRX:005490) and Hangzhou Zhongtai Cryogenic Technology (SHE:300435), began constructing a high-purity rare gas plant in Gwangyang, South Korea, Pulse News reported Wednesday.
The Posco Zhongtai Air Solution facility, located near Posco's Gwangyang mill, will produce 130,000 cubic meters a year, meeting 52% of South Korea's rare gas needs for semiconductors, the report said.
Construction work at the plant is expected to finish by November 2025, the news outlet reported.
Shares of Posco rose nearly 2% at market close on Thursday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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