Tata Steel Limited and the members of the Al Bahja Group, a leading business house of Oman have entered into a Joint Venture Agreement (JVA) for the development of the Uyun Limestone deposits at Salalah in the Sultanate of Oman.

The JV Agreement was signed by Mr. Ajit Hamlai, Chairman, Al Bhaja Group and Mr. B Muthuraman, Managing Director, Tata Steel in the presence of H E The Ambassador of India to the Sultanate of Oman, Mr. Anil Wadhwa, Mr. A D Baijal, Group Director (Global Minerals), Tata Steel, and other officials of the Al Bahja Group and Tata Steel. Tata Steel will be holding 70% stake in the existing Company named AL Rimal Mining LLC through its subsidiary, TS Global Minerals Holdings Pte Ltd. Al Rimal Mining LLC will execute the project of developing and operating the Uyun Mine.

Mr. Ajit Hamlai, Chairman, Al Bahja Group mentioned "The Al Bahja Group is proud to have joined hands with Tata Steel as its partner for this Limestone project. It is one of the major steps towards strengthening the country's mineral resource base and opening new opportunities for the people of Oman. We are confident that Tata Steel's technical excellence and the rich experience shall take this project to its successful implementation. Tata Steel is also well known for its CSR (Corporate Social Responsibility) initiatives, which provides opportunities to the people to explore their talents and strengthen community based institutions".

Mr. B Muthuraman, Managing Director, Tata Steel said, "Tata Steel is pleased to have signed this Agreement. Tata Steel has nearly 100 years of extensive experience of exploration, modelling, designing and operation of both underground and open cast mines. Tata Steel will continue with its policy of introducing best practices for mining, as well as for management of the environment in the development of the Uyun Limestone Mine in Oman. We value our partnership with the Al Bahja Group, and we are sure that this partnership will play a significant role in the mineral development of the Sultanate of Oman. These investments in mining are the foundations towards achieving Tata Steel's vision of becoming a global benchmark in Value Creation, Corporate Social Responsibility, Environmental Protection and Safety through passionate, talented and motivated employees.

The initial phase will involve exploration and detailed feasibility studies. The project envisages mining of limestone in the Uyun region which lies in the Salalah province of Oman and has large deposits of limestone.

About Tata Steel

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel, with the recent acquisition of Corus in 2007 is the world's sixth largest steel producer. The Tata Steel Group, as a combined entity, has geographic footprints in India, South East Asia, UK and Europe with an aggregate crude steel production capacity of around 28 million tonnes having approximately 82,700 employees across the four continents.

Tata Steel's mines, collieries and Jamshedpur works are ISO 14001 certified for environment management. The company's Jamshedpur steel works along with its Ferro Alloys and Minerals Division, have been conferred the SA 8000 certification for work conditions and improvements in the workplace - the first in the world. Tata Steel which has also set benchmarks in the fields of corporate social responsibility and corporate governance firmly believes in improving the quality of life of its employees and the communities it serves.

About Al Rimal Mining LLC

Al Rimal Mining LLC, a group company of the Al Bahja Group of Oman, which enjoys good reputation in the business circles of Oman and has presence in Agriculture, FMCG, Copper, Real Estate, Hotels & Resorts, Pharmaceuticals and Alternative Energy Solutions in Oman. For further information, please visit www.albahja.com.