POSCO, Astron join forces for fuel rod business

SEOUL, Feb. 11 (Yonhap) -- POSCO, South Korea's leading steelmaker, said Thursday
that it has joined hands with Astron Ltd., an Australia-based company, to produce
and sell fuel rods for nuclear power stations.

The two companies signed on Monday the deal to set up a joint venture for the
project, POSCO said.
POSCO plans to build a plant to produce the fuel rods by next year and provide
them both at home and abroad.
Market watchers said that the steelmaker will be able to offer the fuel rods to
four nuclear power stations to be built in the United Arab Emirates by a South
Korean consortium by 2020.
The South Korean consortium led by Korea Electric Power Corp. plans to provide
fuel rods to a nuclear power station to be first constructed in 2017 for three
years under the deal with the oil-rich country.
ksnam@yna.co.kr
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