South Korean steelmaker Hyundai Steel Company has said that it plans to spend a total of Won 5.24 trillion (around $5.5 billion) in building an integrated steel plant.
The steel plant, once its
construction is completed by 2011, will have an annual output capacity of eight million tons.
Hyundai Steel said it will fund half of the Won 5.24 trillion-project with its retained earnings, and borrow the remainder from investors such as Kookmin Bank, HSBC and Standard Chartered Plc.