MoU from INI-Hysco group and Hanbo Steel

MoU from INI-Hysco group and Hanbo Steel

As recently reported by SteelOrbis, INI Steel-Hyundai Hysco consortium was selected as preferred bidder in the tender held for Hanbo Steel. According to recent news in the market, INI Steel-Hyundai Hysco group and Hanbo Steel signed memorandum of understanding. It is stated that, yesterday the consortium paid 5% of its bid. The amount of total bid is not disclosed yet. The negotiations between the consortium and Hanbo Steel will continue and on the condition that, both sides agree on all terms, the deal is expected to be finalized in August.