[lbo-talk] Vietnam, India's Tata plan $3.5 bln steel complex

uvj at vsnl.com uvj at vsnl.com
Wed May 23 11:47:15 PDT 2007

Reuters India

Vietnam, Tata plan $3.5 bln steel complex http://in.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2007-05-21T174321Z_01_NOOTR_RTRJONC_0_India-299256-2.xml

Mon May 21, 2007

HANOI (Reuters) - State-run Vietnam Steel Corporation has won government permission to work with India's Tata Steel Ltd. on an investment of more than $3.5 billion in a steel complex, the government said on Monday.

The government granted its approval last Friday for the unlisted Hanoi-based firm to sign a memorandum of understanding on the investment in Ha Tinh steel complex, a statement on the government's Web site www.vietnam.gov.vn said.

The complex would be built in the central province of Ha Tinh, 340 km south of Hanoi. It could refine iron ore from Thach Khe mine, the statement said without detailing the investment value from each side.

Vietnam has expected foreign direct investment to hit $16 billion this year, three-quarters of which will be new projects, a government official said last month.

© Reuters 2007. All Rights Reserved.

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