South Korea's largest steelmaker POSCO said Tuesday it has signed a deal to purchase a stake in a Pakistani steel company, paving the way for tapping into the South Asian country. Under the deal with Al Tuwairqi Holding signed on Saturday, POSCO will spend US$15 million to buy a 15.34 percent stake in Tuwairqi Steel Mills Ltd. (TSML), the sole maker of direct-reduced iron (DRI) in Pakistan, POSCO said.
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