State-owned Vietnam Steel Corporation (SVC) will team up with India-based TATA Corporation to build a massive steel plant in the central province of Ha Tinh.

The VSC received approval from the Prime Minister to sign a Memorandum of Understandings underscoring the cooperation with its Indian partner.

The US$3.5-billion plant will be capable of turning out 4.5 million tonnes of steel products per year, and will use the Thach Khe iron mine as its primary source of raw materials.