http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.13Change: 0.02
R/$ = 12.04Change: 0.03
Au 1188.10 $/ozChange: 1.50
Pt 1119.50 $/ozChange: 0.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Feb 15, 2012

Posco teams up with IFC to pursue African investments

Back
Construction|Engineering|Expertise|Africa|Mining|PROJECT|Projects|Sustainable|Africa|Energy|Manufacturing|Power Generation|Power-generation|Steel|Infrastructure|Power
Construction|Engineering|Expertise|Africa|Mining|PROJECT|Projects|Sustainable|Africa|Energy|Manufacturing|Power Generation|Power-generation|Steel|Infrastructure|Power
construction|engineering|expertise|africa-company|mining|project|projects|sustainable|africa|energy|manufacturing|power-generation|power-generation-industry-term|steel|infrastructure|power
© Reuse this



The International Finance Corporation (IFC) and South Korea's Posco, the world's numbeer three steelmaker, on Wednesday announced a year-long memorandum of understanding to cooperate on business development in sub-Saharan Africa.

Under the accord, the two organisations will pursue investment opportunities in manufacturing, mining and infrastructure.

Posco is involved in engineering and construction, power generation and natural resource development through its various subsidiaries, and has expanded around the world. It is now targeting Africa.

“Africa is an increasingly important part of the global economy. Posco and its affiliated companies have a growing interest in finding new investment opportunities in Africa in the steel manufacturing, natural resource development, infrastructure, energy and information technologies sectors,” Posco senior VP and head of strategy Young-Hoon Lee said in a statement.

The new cooperation reflects the growing interest of international project sponsors in sub-Saharan Africa, and IFC’s increasing involvement in ‘South-South investment’ – projects executed in Africa, by companies from newly developed countries or other developing countries.

Such investments encourage smoother capital flows and promote high standards that are critical for Africa's economic development.

The Republic of Korea is today a high-income, developed country that is part of the Group of Twenty and member of the Organisation for Economic Cooperation and Development.

“IFC, a member of the World Bank Group, wants to help investors from other dynamic, fast-growing economies find opportunities in Africa.

“IFC has a strong presence across the region, experience in a range of sectors, global expertise and high standards that can help our partners succeed in profitable and sustainable businesses in Africa,” IFC’s country manager for Southern Africa Saleem Karimjee said.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Economy News
IMD World Competitiveness Center director Arturo Bris
Updated 5 hours ago South Africa slipped one position, from 52 to 53, in the latest world competitiveness ranking, which highlighted power and infrastructure shortfalls, high youth unemployment, as well as inadequate education and technical skills availability as key challenges to the...
Agriprofessionals play a vital role in ensuring that the produce on shop shelves and delivered to outlets across the world, is of a high standard, helping to grow the agriculture sector and build a sustainable economic future, says Western Cape Minister of Economic...
More
 
 
Latest News
IMD World Competitiveness Center director Arturo Bris
Updated 5 hours ago South Africa slipped one position, from 52 to 53, in the latest world competitiveness ranking, which highlighted power and infrastructure shortfalls, high youth unemployment, as well as inadequate education and technical skills availability as key challenges to the...
JSE-listed Dipula Income Fund reported that its distributable earnings grew 33.2% in the six months ended February 28, translating into a combined growth of 6.8% in distributions for both A- and B-linked units. The distribution attributable to the A-linked units was...
JSE-listed Growthpoint Properties’ Kirstenhof Office Park, in Johannesburg, has become the hundredth building in South Africa to achieve a Green Star SA certification from the Green Building Council of South Africa (GBCSA), securing a 5-Star Green Star: Existing...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
FREDRIK JEJDLING Sustainability becomes an important part of a business’ decision-making process
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96