Kolkata-based Visa Steel Limited, a subsidiary of Visa Minmetal AG, has informed that it has entered into a Memorandum of Understanding (MoU) with the Government of Chhattisgarh.

The Vietnam steel project will give 65% equity stakes to Tata Steel Global Holding, and a 30% stake in Thach Khe iron Ore Company.

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The Supreme Court has finally cleared South Korean steel major Posco's plans to set up a Rs 51,000 crore mega steel plant and captive minor port in Paradeep, Orissa.

A special environmental bench headed by Chief Justice K G Balakrishnan allowed Posco India Pvt Ltd, a subsidiary of Korea-based Posco, to go ahead with the project.

With this order, the apex court has also cleared forest diversion proposal for the plant site which require 1253.225 hectares of forest land.