POSCO seeking to develop clean energy in Mongolia

SEOUL, Aug. 25 (Yonhap) -- South Korea's leading steelmaker POSCO said Sunday it is moving to develop a new type of clean energy in resource-rich Mongolia together with a local company there.

POSCO said it has joined hands with MCS Group, one of the largest private companies in Mongolia, to start a coal-to-liquid (CTL) business in the country and is in the process of obtaining approval from Ulan Bator.

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