Iran-South Korea Steel Deal Halted by Saudi Influence

(Construction Week) Pressure from Saudi Arabia has led to the blocking of an investment deal by South Korea in Iran's steel industry. South Korea's POSCO Engineering and Construction had signed a $1.6bn memorandum of agreement with the Iranian steelmaker, Pars Kohan Diar Parsian Steel (PKP), in May 2016, to build a steel mill in the country's Chabahar Free Trade-Industrial Zone.

2018-05-28 00:00:00

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