India’s US$5 Billion Vietnam Project to Begin

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Nov. 9 – India’s Tata Steel might soon begin its US$5 billion project in Vietnam when 725 hectares of land in Ha Tinh Province is allocated and handed over to the company as an alternative site for the project.

“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,” a Tata Steel spokesperson told The Press Trust of India.

The new Tata steel plant will have a capacity of 4.5-million tons per year with the first phase of the steel project is expected to be done by 2012, the second phase by 2013-2014, and the third phase  by 2017-18.