THE SOCIALIST REPUBLIC OF VIET NAM
Government News
TATA and VNSTEEL team up in cool-rolled steel project
VNGOP – The Việt Nam Steel Corporation (VNSTEEL) and the India-based TATA Group signed yesterday, October 31, a memorandum of understanding on their cooperation in building a cool-rolled steel factory in Việt Nam.
November 01, 2007 7:17 AM GMT+7
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Photo: VNGOP |
The factory is designed to reach an initial capacity of 1.2 million tons. There are three options for the site of the factory. However, the exact capacity and site will be fixed in the feasible study report completed by TATA in July 2008.
Under the memorandum of understanding, TATA is expected to contribute 65 percent (maximum) of the capital, and VNSTEEL 35 percent (minimum).
Earlier, the two partners had signed an agreement for a metallurgy complex in central Hà Tĩnh Province, which will churn out 4.5 million ton of products per year.
By Nguyên Hồ