South Korea’s largest steelmaker, POSCO, is mulling over the sale of up to 49% of its interest in its LNG terminal at Gwangyang port, South Korea, a source from the company told Reuters on Wednesday.
It is thought that the sale would not divest POSCO of the management rights of the terminal, which acts as both an export and import terminal.
An industry insider said that POSCO had chosen a firm to manage the sale of the stake, thought to be worth US$ 387.26 million.
The overall value of the terminal is estimated at US$ 871.5 million.