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Home Steel News Posco plans to build stainless steel plant jointly with Mechel in Russia
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Posco plans to build stainless steel plant jointly with Mechel in Russia

24 Jun 2011 14:07 reported by Nann Cheng

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Reportedly, South Korean Posco signed memorandum of agreement (MOA) with Russian Mechel to jointly explore the natural resources and produce stainless steel.

Under the agreement, the two sides will build a stainless steel plant in Russia and explore the natural resources in Siberia and other countries.

Among them, the deposit of Elga coking coal in Siberia is estimated at 2.2 billion tons; however, it’s difficult to process the mining activity due to the harsh weather. Nevertheless, the Elga coking coal has caught mining companies’ attention by sharply rising coking coal prices.

Posco expected to become global leading steel industry through its rich experience in steel construction field and Mechel’s abundant natural resources.

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