According to report, stainless steel maker Posco said yesterday that it sees the construction of stainless cold rolling mill built in Izmit in Turkey's Kocaeli province will be finished in April 2013 on schedule.

The new plant's expected annual capacity is 200,000 tons and named Posco Assan TST. It is the joint venture owned by Posco of 60% of stakes, and 10% held by Posco's trading subsidiary Daewoo International and the rest held by domestic CR and galvanizing strip maker Kibar Holding. The construction was started in September 2011.

Posco believed that this new joint venture will lead in the Turkish market for stainless CRC as well as serving other regions markets of Middle East, East Europe and CIS etc.