Our resident troll appears to be working very hard on inconsistent posts and lagging stories. It's telling to see these latest desperate posts. Their frequency seems to be a new tactic as if they are conscious of the fact that their time is almost up.
The geopolitical situation that has been emerging in East Africa is a confluence of civil discontent, violence, destroyed infrastructure, limited UN funds (thanks to TACO Don), and extreme weather events (cyclone Jude) that have created a humanitarian crisis beyond normal. Perhaps an annual occurrence due to climate change!
The fact that East African companies are failing one by one suggests that our resident troll is motivated by "sour grapes" as a lack of other trolls who would typically follow are clear indicators of this.
Seriously, who can say they have a genuine project when they put the wagon before the horse? Answer: E,G-R. Since they don't own their horse and must live with the possibility that it could be taken away at any time, E,G-r has chosen an uneconomical course of action. Not having all of their resources in one country is a SYR-style boondoggle which appears to be equally doomed. It is fraught with so much risk, particularly since we know Chinese money has a significant influence in the region.
As a consequence, POSCO now appear to have given up on East Africa. This new facility in Australia has happened so fast and shows how fast things can move. IMO, Japan will need to follow suit or lose significant market share.
POSCO are on the front foot. They have chosen Australia as the place of certainty.
Exciting times!
All IMO, DYOR, GLTA(patient)H
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