Posco venture in RI

Thu, 21 Dec 1995

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.

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