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Posco signed MOU for resource development with Mechel

Posco is to start developing resources in Siberia and a logistics route in the Far East region. This is the first case of a Korean company signing a deal for extensive resource development in Russia, and a big move in distribution route development in the Far East. Posco and Mechel signed a MOU for a comprehensive partnership on November 10th. This agreement is composed of 4 key parts: resource exploitation and joint investments, ports modernization and infrastructure construction, review for construction of a steel mill to produce semi products in mid/long-term, and promotion of products.

Source: Stahleisen.de

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