Mechel, one of the leading Russian mining and steel groups, has announced the signing of a long-term partnership agreement with South Korea's STX Group during the Business Summit of the Asia Pacific Economic Cooperation (APEC).
The agreement aims to set up a mutually beneficial partnership between the two companies. The sides intend to cooperate in the long term on promoting products manufactured by Mechel enterprises and STX Group, and implementing possible joint projects. Such projects would include cooperation in coal shipments, joint participation in development of ports and port terminals in Russia's Far East, as well as cooperation in sea transit issues.
STX Group is one of South Korea's largest corporations, focusing on shipbuilding, construction, sea transit and energy.