Tata Steel to invest Dollar5 billion in Vietnam project

The governments of India and Vietnam on Thursday cleared all hurdles to enable Tata Industries to set up a Dollar5 billion steel plant, a project that had been stalled for years due to delays. Revealing the landmark decision, Ranjit Rae, India's ambassador to Vietnam, told mediapersons in Hanoi the project was expected to produce a whopping 4.5 million tonnes of steel annually.