Halla joins Aussie plant

Halla joins Aussie plant

SEOUL (UPI): South Korea's Halla Group and Resource Equities
Ltd. of Australia have signed a deal to build a $800-million iron
plant, a Halla spokesman said yesterday.

Construction is due to start by January 1998 in Perth in
western Australia, due for completion by the year 2000, spokesman
Kang Sang-yoon said.

The plant will produce two million tons of hot briquetted iron
for use in steel plates for ships and automobiles, Kang said.
Halla plans to invest $430 million in the joint venture which
includes key production facilities and equipment, the spokesman
said.