Tata Steel based in India and the world's sixth-largest steel maker, is reportedly mulling the construction of a five million tonnes a year steel plant in South Africa but appears to have its heart set on first securing coal and iron ore mines.
One of the fastest growing steel companies in the world, the Indian conglomerate's ambition is to become a 100 million tonne a year steel producer.
Ten years ago, who would have thought that Indian, and Chinese conglomerates would be acquiring companies from Europe, US, and Africa. Globalization has enabled emerging markets the ability to tap world markets to acquire capital and grow multinational companies. Economies of scale is also allowing this growth; through lower labor rates and cost structures.
