Posted on 07 Jul 2014
South Korean steelmaker Posco and the parent group of
China's Chongqing Iron & Steel Co. have signed a memorandum of
understanding for a $3.3 billion investment, South Korea's trade ministry said
on Friday.
The agreement will cover areas including Posco's
self-developed steel making technology called Finex and mining, the ministry
said in a statement. It did not offer other specifics.
Posco said in September that it agreed to set up a steel
mill jointly with Chongqing in western China with an annual production capacity
of 3 million tonnes.
