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Vietnam steels bond with Tata

Jamshedpur, July 4: The Prime Minister of Vietnam, Nguyen Tan Dung, today pledged full support to Tata Steel in setting up the proposed 4.5-million-tonne steel complex in Ha Tinh province there.

Nguyen on his maiden three-day visit to the country on invitation of his Indian counterpart Manmohan Singh, after having a short stay of about five hours in Jamshedpur, left for Mumbai.

Tata Steel and Vietnam Steel Corporation (VSC), the largest steel company of Vietnam, signed a memorandum of understanding (MoU) for a proposed steel complex with an estimated capacity of 4.5MTPA on May 29. Tata Steel will be entitled to participate in Thach Khe Iron Ore mining project with an equity contribution of 30 per cent.

“The government of Vietnam is very positive about Tatas and their project. We assure them every help to ensure that the proposed steel complex is set up at the earliest,” said Dung. He was addressing a select gathering at the Steelennium Hall inside Tata Steel Works after a felicitation ceremony this afternoon.

Talking on the age-old relationship between the two countries, he said: “It will be my endeavour to take our relations to a new height. I hope that this visit will improve cultural, economic and political ties between the two countries in the days to come,” said Dung.

Managing director of Tata Steel B. Muthuraman assured Dung of starting a feasibility study for the proposed steel complex at the earliest.

“This is a moment of pride and honour for Tata Steel and Jamshedpur to have the PM visit the city on his first trip to India. I would like to take this opportunity to thank everyone in VSC and Vietnam government for extending their support because of which the MoU between Tata Steel and VSC became a reality. It is our intention to come up with high quality steel plant and mining facility in Vietnam as soon as possible,” said Muthuraman, adding: “The feasibility study for the project will start very soon.”

Dung was accompanied by Vietnam ambassador to India Vu Quang Diem and Indian ambassador to Vietnam Lal P. Muana.

Meanwhile, frenzied excitement at the Tata sports academies turned sombre as Dung gave a customary appearance to the cadets.

Tata football, archery and athletics academy cadets as well as their counterparts from other training centres had waited long to meet Dung, who was supposed to arrive at the JRD Tata Sports Complex at 3.50pm but was more than half-an-hour behind schedule.

“We were keen on shaking hands with the Viatnam Prime Minister, said a cadet said, adding they would wait for his next visit.

The Tata Steel sports department had made elaborate arrangement to greet Dung.

There were colourful balloons scheduled to be released by Dung, a red carpet was laid till the main entrance of the stadium and bouquets were lined up to welcome the VIP.

But Dung never even stepped out of his car.

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