Tata Steel is in talks with China’s second-largest steel producer, the Hesteel group, for the sale of its assets in South East Asia, reported The Economic Times.
The deal could include assets under NatSteel in Singapore, Thailand and Vietnam, the newspaper said citing a report from S&P Global Platts.
The development comes as Tata Steel is taking steps to focus more on the domestic market, the report said.
The firm, the report said, has been making attempts to acquire more assets within the country. In 2018, it bought Bhushan Steel Ltd under the insolvency resolution process and is also in the race for Bhushan Power & Steel, said the report.
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