[lbo-talk] Vietnam Steel and Indian Tata Steel to build huge steel complex in Ha Tinh

uvj at vsnl.com uvj at vsnl.com
Thu May 31 14:18:49 PDT 2007

Nhan Dan http://www.nhandan.com.vn/english/

VSC and Indian Tata Steel to build huge steel complex in Ha Tinh http://www.nhandan.com.vn/english/business/300507/business_tamt.htm#VSC%20and%20Indian%20Tata%20Steel%20to%20build%20huge%20steel%20complex%20in%20Ha%20Tinh

Nhan Dan Online - The Vietnam Steel Corporation (VSC) and India-based Tata Steel Corporation signed a memorandum of understanding (MoU) in Hanoi on May 29 to build a steel complex in the central province of Ha Tinh.

Under the MoU, the two sides will undertake a feasibility study for a US $3.5 billion complex in Vung Ang Economic Zone. The study will be finished in September 2008.

The complex will include a steel mill with an annual output of 4.5 million tonnes of steel. Tata Steel will own a minimum of 65% of the plant's shares. The complex will use raw materials from the Thach Khe iron mine, in which Tata will hold a 30 percent stake. The feedstock is ready for processing thanks to a recent establishment of the Thach Khe iron joint-stock company, said Dau Van Hung, VSC director general at the signing ceremony. Tata Steel, the world's sixth largest steel producer, previously teamed up with VSC, Vietnam's biggest steel maker, on two joint-ventures.

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