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Tatas to invest Rs 600 cr in Oman

Kolkata, Jan. 17

Tata Steel Ltd will invest $100-150 million (approximately Rs 400-600 crore) in developing the Uyun limestone mine in the Sultanate of Oman in next three years, according to the company Managing Director, Mr B. Muthuraman. The mine will produce an estimated 10 million tonnes of limestone annually for consumption of Tata Steel's facilities in India and Corus plants in abroad. The world's largest steel marker has concluded a joint venture agreement with Oman's Al Bahja Group to develop the Uyun limestone deposits in Salalah on Wednesday. Tata Steel will hold 70 per cent stake in the joint venture, Al Rimal Mining LLC. - Our Bureau

More Stories on : Overseas Investments | Steel | Minerals | Tata Steel Ltd

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