BHP Billiton eyes venture with POSCO

BHP Billiton eyes venture with POSCO

SYDNEY: Anglo-Australian mining giant BHP Billiton said on
Friday it was looking at developing an iron ore business in
India's Orissa state with South Korean steelmaker POSCO.

The talks centered on a proposal to build a steel plant and
port facility in the state, in conjunction with an iron ore mine,
the company said. It stressed, however, that the proposal was at
a very early stage.

"While any joint proposal, were it to proceed to the next
stage, might involve all of these components, BHP Billiton's
interest would be limited to the supply of steel-making raw
materials and associated materials-handling facilities and
infrastructure to the steel industry in Orissa," the company said
in a statement.

The Australian newspaper on Friday said BHP and POSCO plan a
A$12 billion (US$8.7 billion) project in the coastal state, to
set up the biggest steel plant in India.-- AFP

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Brief-SKorea-German
Daewoo Shipbuilding wins German order
JP/14/Brief

Daewoo Shipbuilding wins German order

SEOUL: South Korea's Daewoo Shipbuilding and Marine
Engineering said Friday it had won an order to build two
container ships for a German firm.

Daewoo Shipbuilding said the 225.7 billion won (US$195
million) new contract was to supply two 8,000-ton container
vessels to C.P. Offen of Germany by May 2007.

Daewoo says it has a record backlog of orders worth $12
billion in total, which will keep its shipyard busy over the next
three years.--AFP