This is a Myanmar military-backed joint venture. Along with the chaos in Myanmar, criticism of the violently suppressed pro-democracy protests by the military followed.
A subsidiary of South Korean steel giant POSCO, POSCO Coated & Color Steel Co Ltd, has partnered with military-backed firm Myanmar Economic Holdings Public Co Ltd (MEHL) and is now under pressure to end the joint venture plan.
POSCO C&C originally owned 70% of this JV with MEHL and has already informed MEHL of its intention to buy out 30% of the Myanmar firm so that it can continue with full ownership.
However, MEHL has not yet responded to POSCO C&C's offer.
POSCO C&C plans to close Myanmar joint venture
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Azovpromstal® 21 April 2021 г. 09:43 |
