India's Tata gets green light for 3.5 billion dollar Vietnam steel plant

0 Comments | AFP, May, 2007

HANOI (AFP) — 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.

© 2007 AFP

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