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South Korean, Chinese Steelmakers Investing Nearly $1 Billion In New Joint Ventures
08/11/2015 - South Korea's largest steelmaker is partnering with China's Chongqing Iron & Steel Co. on two joint ventures that will produce zinc-coated plates and cold rolled plates, The Korea Observer reported.
According to the online publication, POSCO and the state-run Chongqing are putting US$997 million behind the joint ventures, which are expected to have a combined capacity of 2.4 million tons per year, according to the publication.
POSCO is to take a 51 percent stake in the zinc-coated plate venture, the publication said. But Chongqing is taking the lead in the other venture, with POSCO holding a 10 to 25 percent stake, the publication said.
