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[Ferro-Alloys.com] It is reported that the Ministry of Trade, Industry and Energy (MOTIE) said that South Korea’s Posco and China’s Chongqing iron and steel (CISC) have signed memorandum of understanding on a US$3.3 billion investment. 

The agreement included Posco's self-developed steel making technology called Finex.

Analysts speculated that the cooperation projects would also cover the automobile steel plate and ore investments. 

CISC is one of the largest state-owned industrial enterprises in China. The company mainly produces and sells medium and thick steel plates, extrusions and wires. 

• [Editor:Yueleilei]