POSCO starts work on steel plant in Turkey

SEOUL (AFP) - – South Korean steelmaker POSCO said Friday it has begun building a plant in Turkey to produce steel for automobiles.

The plant, when completed by June 2010, will have an annual capacity of 170,000 tonnes of steel for automakers including Ford, Renault, Fiat, Hyundai Motor, Toyota and Honda, POSCO said in a statement.

The company, the world's fourth largest steelmaker by output, currently has 41 steel processing facilities in 12 countries.