Tata gets nod for 3.5 billion steel plant in Vietnam
The communist government says India's Tata Steel can go ahead with plans to build the mega budget steel plant with a local partner.business Updated: May 22, 2007 16:46 IST
Vietnam has given India's Tata Steel Ltd approval to go ahead with plans to build a 3.5 billion dollar steel plant with a local partner, the communist government said on its website on Tuesday.
Prime Minister Nguyen Tan Dung has allowed state-run Vietnam Steel Corporation to sign a memorandum of understanding with the Indian investor on the project in central Ha Tinh province, said the online report.
The complex is expected to have a capacity of 4.5 million tons a year, using raw materials from the Thach Khe iron mine, it said.