Tata Steel explores limestone import from Vietnam

Tata Steel explores limestone import from Vietnam
PTI
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First Published: Thu, Jul 05 2007. 05 48 PM IST
Updated: Thu, Jul 05 2007. 05 48 PM IST
Kolkata: Tata Steel, which recently lost a bid for acquiring Vietnam’s Vinausteel and SSE Steel, is exploring possibilities to import limestone from that country for its steel plants.
“We are looking at possibilities for importing quality limestone from Vietnam which will help bring down the freight cost for the raw material as the country is close to India,” a Tata group official said here on 4 July.
The official, however, said the proposal was at an initial stage and no decision had been taken.
Currently, Tata Steel imports limestone, which is used in the steel-making process, from the Middle-East.
The company was also looking at acquiring iron-ore and coal mines overseas to feed its growing demand for raw materials for expansion of steel-making capacity.
Tata Steel has limestone mines in Madhya Pradesh.
Tata Steel’s Singapore subsidiary NatSteel, which had bid to acquire 100% in SSE Steel and 70% in Vinausteel, lost to Prudential Vietnam Securities Investment Fund Management Company.
SSE Steel has a capacity of 250,000 tonne of bar and wire rods and Vinausteel produces 180,000 tonne of reinforcing bars.
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First Published: Thu, Jul 05 2007. 05 48 PM IST