Tata Steel Group yet to receive licence for steel project

The government has assigned Ha Tinh Province People’s Committee to coordinate with other functional authorities to continue their consideration about Ha Tinh Steel Complex project with India’s Tata Steel Group as the main investor. The foreign group has to meet all the requirements so as to get the investment licence.

In details, Tata Steel Group will have to cooperate with Vietnam Steel Corp in working with Ministry of Industry and Trade and Thach Khe Steel Joint Stock Co to discuss about steel ore supplies for Ha Tinh Steel Complex project. In addition, the Indian group was also asked to provide more evidence about the water source to be used in the project and to complete the report about environmental effects.

In mid-2007, Tata Steel Group signed a memorandum of understanding (MoU) with Vietnam Steel Corp and Vietnam Cement Corp in carrying out the Ha Tinh Steel Complex project, in which the foreign firm contributed 65 percent of total investment capital. In June 2008, the concerning parties already finished the application profile for investment licence. However, because in fact there were some changes in land and sea area to be used for constructing the sea port in comparison with the initial commitments, the project cannot be realised so far.

Dautu

Tags: Tata Steel Group, Vietnam steel industry, Vietnam steel market

Posted by VBN on Jun 14 2010. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry