A fresh twist on plant's future.THERE was confusion today over reports that Tata Steel Tata Steel, formerly known as TISCO (Tata Iron and Steel Company Limited), is a steel company based in Mumbai, India. Its main plant is located in Jamshedpur, Jharkhand, though with its recent acquisitions, the company has become a multinational with operations in had decided not to sell its Corus Teesside Cast Products plant at Redcar to Italian bidders. A Tata director in Mumbai was quoted as saying: "There is no question of selling the plant to them now." But UK bosses insisted the memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to buy the plant, where 2,000 jobs are at stake, was still in place with Marcegaglia and joint bidders, Korean based Dongkuk. Full story: Page 20 |
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