Sunday, January 27, 2008

Tata Steels make an Investmen in Omann JV




The limestone deposits would cater to Tata steels facilities in India and the Uk under corus. Tata Steel will be investing around Rs 600 crore in the limestone joint venture with the Al Bahja Group a leading besiness house of Oman. For development of the Uyun limestone deposits at Salalah in the Sultanate of Oman.


     Industry sources pointed out the there were no significant limestone deposits in India. This is not Tata Steels first limestone venture.According the to the arrangement with the

Al Bahja group  Tata Steel  would be holding a 70 percent stake in the existing company Al Rimal  Mining LLc through its subsidiary TS global minersl Holdings. The move to forge the agreement with the Al Bahja group was part of Tata steels initiative to secure raw material security.

Recently Tata steel signed a joint venture agreement with Sodemi a state owned ivory coast mineral development company  for development f Mount nimba iron ore deposits.

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