Posco to reportedly build Mongolian plant

By Seoul Bureau
SEOUL (MarketWatch) -- South Korean steel maker POSCO will build a coal-gasification plant in Mongolia next year in a 50-50 joint venture with a Mongolian company, the Seoul Economic Daily reported Tuesday, without citing sources.
The report comes a day after the Ministry of Knowledge Economy said Posco signed an Memorandum of Understanding with a Mongolian company for cooperation in the commercialization of energy resources.
Despite the MOU being signed, no detailed plans have yet been decided, a Posco spokesman told Dow Jones Newswires.
Newspaper website: http://economy.hankooki.com/

Source:Dow Jones Newswire
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