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

On Wednesday, Tata Steel announced that Tata Steel Global holding Pte Ltd, which is its wholly owned subsidiary based in Singapore, has signed up a Joint venture (JV) agreement to set up steel complex in Ha Tinh province of Vietnam.

Tata Steel Global Holding has signed the JV agreement with Vietnam Steel Corporation and Vietnam Cement Industries Corporation after completion of detailed feasibility studies.

Earlier, the company had signed MOU for the Vietnam steel complex on May 29, 2007.