The world's third largest steelmaker, South Korea-based POSCO, is seeking a role in projects for the development of Ukraine's infrastructure, including harbor facilities, subways and roads.
Business opportunities in Ukraine were discussed on Friday, October 22 in Kiev by POSCO chief executive Chung Joon-yang, Ukrainian President Viktor Yanukovych and Prime Minister Mykola Azarov.
During the meeting, Mr. Chung requested the Ukrainian government's support for POSCO subsidiaries to take part in infrastructure projects, and suggested that his company can also contribute to the Ukrainian steel industry with its high quality technologies. Issues concerning POSCO's collaborative projects with Ukrainian steel company Metinvest Holding and Smart Holding were also discussed. In response, the Ukrainian leaders promised full support if the steelmaker proposed detailed plans for such projects.
As SteelOrbis previously reported, in September 2009 POSCO and the Ukrainian mining and steel producing company Metinvest signed a memorandum of understanding to commence exploring and implementing wide-ranging business cooperation in the raw material and steel sectors in Eastern Europe and the CIS region, and to start an active exchange of technological and management information.