Korean Posco said on Wednesday that it will establish a joint venture with Kazakhstan's UKTMP for producing titanium slab starting from late 2010.

Both companies had signed a MoU to set up a plant in Ust-Kamenogorsk, eastern Kazakhstan in early 2010. Both of them will hold 50 percent stake equally. The new JV will produce metal used for shipbuilding, aerospace and nuclear power.

Posco also plans to produce titanium plates from the slabs at its domestic plants for serving domestic, China and European markets.