OREANDA-NEWS. December 13, 2011. South Korea's Dongkuk Steel said on Friday it had decided to invest 825.6billion won (USD 729.7 million) in its joint venture with Brazilianmining giant Vale.

The Cia. Siderurgica de Pecem (CSP) joint venture, in whichSouth Korea's POSCO is also a stakeholder, is designed to produce 3 million tonnes per year of slabs in itsfirst phase, most for export to Korea.

The completion of CSP's slab production plant is expectedin 2015, Dongkuk said in a filing to the Korea Exchange. (USD 1 = 1131.5000 Korean won).