Thursday 24 July 2008

POSCO eyes Sarawak, watch out for air and water pollution, destruction of the natural environment and loss of flora and fauna

Will this be yet another nail in Sarawak's coffin?

Some are undoubtedly going to get even richer if this plan by Pohang Iron and Steel Company, of South Korean is allowed to proceed will-nilly.

See this recent news report taken from the international marine publication ‘Fairplay’.

"Now POSCO eyes Sarawak

THE WORLD’S third-largest steel producer, POSCO of South Korea, is keenly eyeing the vast economic potential of the eastern Malaysian state of Sarawak, now that the company’s Vietnam plans have come to grief.

South Korea’s ambassador to Malaysia Yang Bong Ryull told the Bernama News Agency:

“POSCO is showing big interest in Sarawak.” Yang was briefing reporters after attending a briefing by senior Sarawak Energy officials in Kuching.

Vietnam government-owned shipbuilder Vinashin recently decided to withdraw from a deal with POSCO for a $3.5Bn integrated steel mill plant.

But POSCO has reportedly submitted a feasibility study to build a different steel plant in central Vietnam. Korean sources close to POSCO said that it awaits Vietnamese government approval for a plant with first-phase production of 1.8M tonnes of steel a year."

Patria est communis omnium parens

- Our native land is the common parent of us all.

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