Posco venture in RI

Posco venture in RI

SEOUL (UPI): Pohang Iron and Steel Co. (Posco) has decided to
push a US$503-million joint venture to build a steel facility in
Indonesia, a company spokesman said.

Posco and its 50-50 Indonesian partner PT Krakatau Steel Co.
will begin construction of the facility in September 1997, with
completion expected by September 1999.

The Posco-Krakatau steel mill will churn out 1 million tons of
hot-rolled coils annually, he said.