South Korea-based information technology (IT) solutions provider POSCO ICT, a subsidiary of South Korean steelmaker POSCO, has received a KRW 120 billion ($104.2 million) order from Brazilian steel mill Companhia Siderúrgica do Pecém (CSP).
POSCO ICT will provide the plant with the automation system required for the blast furnace, raw material, sintering, coke manufacturing, steel making and continuous casting process for the mill.
The mill in question is a joint venture in which South Korea's Dongkuk Steel and POSCO and Brazilian miner Vale will have 30 percent, 20 percent and 50 percent stakes respectively.