IMIDRO Signs € 1Billion MoU with POSCO

IMIDRO and POSCO signed Memorandum of Understanding to broaden Iran and South Korea’s cooperation in steel and related industries sectors in Tehran.

This MoU signed by Mehdi Karbasian, Chairman of the board of IMIDRO, and Oh Joon Kwon, CEO of POSCO on the sideline of South Korea’s president visit to Tehran.
Time of this MoU is two years. Value of this MoU is about € one billion and based on it, POSCO and IMIDRO will use experiences and technical knowledge of each other.
As Iran has experience and significant knowledge in steel industry and DRI sectors so that some new steel projects are implementing with Iranian technology (PERED).
One of the points of new cooperation between Iran and technology owned countries is technical knowledge transfer to Iran. Also, financing and attraction of foreign investment for Iranian projects are as important as knowledge transfer. This subject is stressed in above mentioned MoU .
POSCO has been established in 1968 in Pohang, in South Korea aimed to expand steel industry. POSCO has activities in mining industries such as steel (hot and cold rolled, steel sheets, galvanized and stainless steel), magnesium, titanium and aluminum sectors.
POSCO is one of the largest steelmakers in the world which has experience and capabilities in engineering and construction sectors.

source: imidro