POSCO Chemical plans to invest in $633 mln battery materials plant with GM

The logo of POSCO is seen at the company's headquarters in Seoul
The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. REUTERS/Kim Hong-Ji

SEOUL, May 27 (Reuters) - South Korea's POSCO Chemical Co Ltd (003670.KS) said on Friday it plans to invest in a $633 million battery cathode materials plant in Canada with U.S. automaker General Motors Co (GM) (GM.N).

The South Korean materials maker said in a regulatory filing that it plans to invest $278 million through September 2024 on the joint venture plant with GM.

In December, the two companies announced their plans to form a joint venture in North America. read more

($1 = 1,254.9900 won)

Reporting by Heekyong Yang and Jihoon Lee; Editing by Christopher Cushing

Our Standards: The Thomson Reuters Trust Principles.

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