November 22, 2008

Vedanta to decide on steel JV partner by 2008 end – Report

Bloomberg reported that Vedanta Resources Plc is likely to agree on a JV partner for a 5 million tonne steel plant by the end of 2008 and is talking with European, Japanese and Indian companies.

As per report, it will take 3 years for the first part of the project to be completed once a partner is chosen.

The partner may be given a majority stake in the venture in Orissa and Vedanta will supply the project with iron ore.