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

;AFP; ANPAf..r.. 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