Tata Steel (Q, N,C,F)* has signed a memorandum of understanding (MoU) with the Chhattisgarh government for setting up a five million tonne greenfield integrated steel plant in the state, reports Business Standard.

According to the MoU, the integrated steel plant would have a capacity of five million tonne per annum of steel with two million tonne per annum in first phase. The first phase of the steel plant is likely to be setup within 48 to 60 months from the date of obtaining all statutory clearances.

The steel plant would focus on the fast growing long products steel segment. Along with meeting the iron ore requirements of this plant, the project is expected to generate employment potential - both direct and indirect.