News Room - Steel Industry

Posted on 11 Nov 2009

Tata Steel Vietnam project to start soon on new site offering

Tata Steel's US$5 billion project  in Vietnam may soon get off the ground with the south-east Asian country offering an alternative site to the steel major for setting up the plant.

"Tata Steel has accepted the last offer made by the authorities there. The next step will be the formal handing over of the land to us," its spokesperson said.

The world's sixth largest steel maker is expected to start the construction process for the 4.5-million tonnes per annum plant in Vietnam as soon as the land is allocated to it.

The project was delayed after the earlier site for the proposed plant preferred by Tata Steel was given to a Taiwanese firm.