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South Korean steelmaker POSCO has opened a new wire rod processing center at the Port of Indiana in Jeffersonville, Ind. The 80,000-square-foot facility is located on 13 acres at the port.

The new facility will process steel wire for fasteners, nuts and bolts used in automotive. It will also serve as a distribution center for other POSCO products.

“I believe our investment in Indiana will soon be followed by investments in other parts of the auto supply chain that can serve as a powerful stimulant to Jeffersonville’s local economy,” says Ohjoon Kwon, POSCO CEO. “Furthermore, we can contribute to creating new jobs in the local community going forward.”

“Our Jeffersonville port’s location in the heart of the auto and appliance manufacturing region will be a tremendous strategic advantage for POSCO,” says Rich Cooper, CEO for the Ports of Indiana. “The company will now have year-round access to the Gulf of Mexico by way of barges on the Ohio and Mississippi rivers, providing the most cost-effective and fuel-efficient mode of freight transportation. POSCO, their customers and suppliers will all be the beneficiaries of the port’s multimodal transportation options, including water, access to multiple Class I railroads and interstate highways.”

POSCO is the globe’s fifth-largest steelmaker. It operates two integrated steel mills in South Korea, plus a joint venture with U.S. Steel, USS-POSCO Industries, located in California.