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KOREA, REPUBLIC OF : POSCO to invests $15 million in steel project
Publish Date : 16-Sep-2011
POSCO, the world’s third-largest steel maker, has announced investment of $15 million equity in Tuwairqi Steel Mills Limited (TSML). A joint venture agreement has been signed by Joon-Yang Chung, chairman and CEO of POSCO, and Dr Hilal Hussain Al-Tuwairqi, chairman of Al-Tuwairqi Holding at Sindh Chief Minister House the other day.
Minister of State, Saleem H Mandviwalla; Tariq Barlas, vice chairman and CEO Al-Tuwairqi Holding; BAEK, Sung-Kwan, executive vice president of Overseas Investment POSCO; Zubair Motiwalla, chairman of Sindh Board of Investment, and Younus Dagha, secretary investment, were also present at the signing ceremony.
This agreement would not only form new job opportunities in Pakistan, but also enable transfer of technology in the industrial sector, said Senior Minister Sindh Pir Mazharul Haq.
