POSCO declares cooperation on energy transition in Mongolia… a foothold for advancing into Central Asia
POSCO Group said 7on 9that POSCO International[047050] signed an MOU with local energy and infrastructure company Newcom in Ulaanbaatar, Mongolia, and will cooperate on Mongolia’s energy transition projects. Chairman Chang In-hwa said he intends to make Mongolia a strategic base for energy business in Central Asia.
POSCO Group said 2026year 7month 9day POSCO International[047050] signed an MOU with local energy and infrastructure company Newcom in Ulaanbaatar, Mongolia, for cooperation in the energy business.
POSCO Group said the purpose of the agreement is to cooperate on Mongolia’s energy transition projects. The specific scope of business and investment scale will be disclosed later.
POSCO Group Chairman Chang In-hwa attended the signing ceremony. Chairman Chang said Mongolia is a strategic hub with abundant energy resources and high growth potential.
POSCO Group said it intends to pursue energy and infrastructure projects in Mongolia based on this partnership and expand its influence in the Central Asian market.
Newcom was introduced as a local leading energy and infrastructure company and the partner in the cooperation. The two companies agreed to discuss detailed implementation plans and schedules going forward.
POSCO Group said that, in connection with this agreement, it plans to review projects related to power supply and infrastructure development in Mongolia. Additional disclosures are expected if the related discussions are made public.
Sources: 연합인포맥스
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