Tata Steel signs an MOU with Vietnam Steel Corporation for a cold rolling mill in Vietnam
Tata Steel Ltd has announced that the Company on October 31, 2007, signed a Memorandum of Understanding (MoU) with Vietnam Steel Corporation for the proposed Cold Rolling Mill in Vietnam.
Earlier, the Company had signed the MoU with Vietnam Steel Corporation (VSC) on May 29, 2007 for the Steel Project in the Ha Tinh Province of Vietnam. The Company is further strengthening this relationship by partnering with VSC in establishing a Cold Rolling Mill. The Company already has a Joint Venture with VSC through NatSteel, which is a Singapore based wholly owned subsidiary of the Company.
Vietnam, with a buoyant economy, significant market for steel and raw material resources, is an attractive destination for steel making and value added steel production. The size of the Cold Rolling Mill, the scope and the investment will be determined after the feasibility study. The Company will have a stake of 65% in the CRM project, which will be initiated on the successful completion of feasibility study and financial closure.
Earlier, the Company had signed the MoU with Vietnam Steel Corporation (VSC) on May 29, 2007 for the Steel Project in the Ha Tinh Province of Vietnam. The Company is further strengthening this relationship by partnering with VSC in establishing a Cold Rolling Mill. The Company already has a Joint Venture with VSC through NatSteel, which is a Singapore based wholly owned subsidiary of the Company.
Vietnam, with a buoyant economy, significant market for steel and raw material resources, is an attractive destination for steel making and value added steel production. The size of the Cold Rolling Mill, the scope and the investment will be determined after the feasibility study. The Company will have a stake of 65% in the CRM project, which will be initiated on the successful completion of feasibility study and financial closure.
0 Comments:
Post a Comment
<< Home