South Korea's Posco has signed a memorandum of agreement with Iranian steel maker PKP to jointly builda steel works in Iran's Chabahar free-trade zone.The mill to be built by Posco Engineering & Construction will be capable of producing 1.6 Mt/y of crudesteel and incorporate the group's propriety iron-making Finex process and Poist, a combination of Finex andPosco's compact endless cast and rolling mill technologies.
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