South Korea's Posco Invests in Direct Reduced Iron Plant in Pakistan

Posted in Industry News on 22nd September 2011 |

Posco will invest $ 15 million in Pakistan's Tuwairqi Steel's direct reduced iron (DRI) plant for a 15% share of the 1.28 million tonnes per year project.

It is expected that commercial production will commence in late 2011 and that Posco will increase its investment to $ 200 million in the second phase of the joint venture.

By 2015, it is expected that Pakistani production of steel products will fall well short of domestic demand and POSCO and Tuwairqi Steel see opprtunities for projects such as iron ore, flat products, benefication and pelletisation.

Tags: Directly Reduced Iron (DRI) or Sponge Iron, Pakistan, POSCO, South Korea
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