S.Korean steel firms to invest $16 bln - ministry
 Reuters, 9 November 2009 -
South Korea's steelmakers plan to spend 18.71 trillion won ($16.02 billion) in capital investments in the next three years on equipment to reduce greenhouse gases and energy consumption, the government said on Monday.
Top executives of the country's steel companies including the world's fourth-ranked POSCO have said they would spend a total of 6.96 trillion won in capital investments in 2010, the Ministry of Knowledge Economy said in a statement.
In 2011 the companies will invest 5.85 trillion won and another 5.90 trillion won in 2012, the ministry said.
The plan came after Nippon Steel Corp and China's Baosteel the world's second and third-biggest steelmakers, warned of pressure on prices from China ramping up output, even as signs of improved demand bolstered their quarterly earnings. ($1=1167.6 Won) (Reporting by Cheon Jong-woo; Editing by Greg Mahlich)
Sourced from the Thomson Reuters Carbon Markets Community - a free, gated online network for carbon market and climate policy professionals.
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Reuters |
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9 Nov 2009 |
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Energy & Climate
Mining & Minerals
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Baosteel Group Corporation
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Reuters
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Business & Sustainable Development News
Corporate Social Responsibility News
Energy & Climate News
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