Tata Steel will finally get alternative land in Vietnam for building a 4.5 million ton a year steel plant with an investment of USD 5 billion, reports Business Standard.
The board of Vung Anh Economic Park has proposed allocation of 725 hectares to Tata Steel (Q,N,C,F)* and its Vietnamese partners in the central province of Ha Tinh.
The Indian steel maker has a 65% stake in the venture, while Vietnam`s Steel Corporation and Vietnam Cement Industries Corporation hold 30% and 5%, respectively. Under the terms, the steel venture was supposed to get a 30% stake in the Thach Khe iron ore mines.
| NIFTY 
