POSCO Future M suspends plan for battery materials factory with Chinese firm in S.Korea
04/09/2024 09:20
SEOUL, Sept 4 (Reuters) - South Korea's Posco Future M
003670.KS said on Wednesday that it is suspending a plan to
invest 1.7 trillion Korean won ($1.27 billion) in a new battery
materials factory in South Korea.
The company last year signed a preliminary deal with China's
Zhejiang Huayou Cobalt 603799.SS and local governments in
South Korea to build a precursor and nickel raw material
production plant in the South Korean city of Pohang.
($1 = 1,341.9900 won)
(Reporting by Hyunjoo Jin
Editing by Ed Davies)
((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))
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