Tata Steel Forms Joint Venture to Set Up $5 Billion Steel Complex in Vietnam, an Industrial Info News Alert

BANGALORE, INDIA–(EMWNews – August 21, 2008) – Researched by Industrial Info Resources

(Sugar Land, Texas) — Within days of withdrawing a proposed investment

plan of $3 billion in Bangladesh because of the country’s prevalent

political instability and the non-committal stance of the government, Tata

Steel (BOM:500470) (Mumbai, India) firmed up its plans of developing a

steel complex with a capacity of 4.5 million tons per year in Vietnam. The

project will have an estimated cost of $5 billion. Essar Steel (Mumbai),

POSCO (NYSE:PKX) (Pohang, South Korea) and Baosteel (Shanghai, China) were

also reported to be in the race with Tata Steel for the project.

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