Samsung C&T Corp., a major South Korean trading company, said Thursday that it has clinched a 6.5 trillion won ($5.8 billion) development deal from Australia’s Roy Hill.
Under the deal with Roy Hill Holdings Pty Ltd., Samsung C&T will build an infrastructure for the development of an iron ore in western Australia.
Samsung C&T will build a plant that will be able to process 55 million tons of iron ore annually, a 340-kilometer long railroad and two berths for the Roy Hill iron ore development project for 32 months.
The construction project will be completed by 2015, according to Samsung C&T.
Roy Hill, controlled by Australian billionaire Gina Rinehart, is set to develop a world-class iron ore deposit in the Pilbara region of Western Australia. (Yonhap News)
