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Indian steel giant, Tata Steel declared on Wednesday, August 13 that it has inked a joint venture (JV) with
The proposed steel plant will have a total capacity of 4.5 million tones and will be set up in three phases. The total investment that will go into building it is $5Billion. In the first phase, a cold rolling mill will be set up, which will be commissioned by 2010-end.
While the Indian steel company will hold 65 per cent stake, the Vietnam Steel will hold 30 per cent stake. The remaining five per cent will be held by Vietnam Cement. It was on May 29, 2007 that the MoU was signed between the concerned parties. The definitive agreements, however, were inked Wednesday after completion of detailed feasibility studies.
