Posco, South Korean Steel maker and Chongqing Iron and Steel Co, of China have a signed a MoU for an investment of about $3.3 million, said the trade ministry of South Korea during Friday

The Memorandum of Understanding will areas which include steel making technology known as Finex and mining, developed by Posco itself, said the ministry. It did not offer any other specifics.

In September, Posco said that it agreed to build a steel mill through a joint venture with West China Chongqing with a production capacity of about 3 million tonnes per annum.

(www.nctv.net)