Indian conglomerate Tata Group is conducting negotiations with the Vietnamese government to set up a steel factory in Vietnam with an investment of US$5 billion, according to a report by the Press Trust of India.
Tata Group signed a memorandum of understanding (MoU) back in 2007 with the government of Hatinh Province in Vietnam to set up a steel factory and currently negotiations are continuing between the two parties, Vietnamese ambassador to India Nguyen Thanh Tan said, according to the report. The ambassador added that it will be the largest Indian project in Vietnam if the negotiations conclude.