Published
Saturday, May 18, 2013 - 22:58
Korean firm steels itself for Myanmar JV
South Korean steel firm Posco Coated & Color Steel (Posco C&C) has entered into a joint venture to set up a new continuous color-coating line with Myanmar Economic Holdings Ltd, according to industry website Platts.
Under the joint venture, which will be named Myanmar-Posco C&C, the Korean firm will hold a majority shareholding.
According to Platts’ report, Myanmar-Posco C&C aims to meet demand for color-coated sheet for construction usage within the country.
An official from the firm is quoted as saying that the capacity of the new plant will be around 50,000-60,000 metric tons/year, and that construction will begin in October.
The location of the new plant was not disclosed.
