Tata steel new JV with vietnam steel and cement corporation

Vietnam’s largest steel company Vietnam Steel Corporation, Vietnam Cement Industries Corporation and TATA Steel have signed a 30:5:65 JV agreement for the proposed steel complex in Vietnam. Mr Dau Van Hung president of Vietnam Steel Corporation, Mr Nguyen Ngoc Anh of Vietnam Cement Industries Corporation and Mr B Muthuraman MD of TATA Steel signed the JV agreement at a ceremony held in the Head Office of Vietnam Steel Corporation in Hanoi.
The MOU for this steel project was signed on 29th May 2007. Subsequently Definitive Agreements were signed today after completion of detailed feasibility studies.
4.5 million tonne per year steel complex will be set up in the Vung Ang Economic Zone in Ha Tinh Province of Vietnam. The Integrated Steel Plant will be built in three phases at a total estimated cost of USD 5 billion. While the ultimate capacity of the steel complex will be 4.5 million tonnes per year, the first phase of the complex will be a Cold Rolling Mill to be commissioned by end 2010.

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