Business Daily from THE HINDU group of publications
Wednesday, Sep 12, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Sep 12, 2007 ePaper |
|
|
|
|
|
|
|
Corporate
-
Overseas Investments Industry & Economy - Minerals Government - Policy Jindal venture gets Bolivian Parliament nod
Phalguna Jandhyala New Delhi, Sept. 11 The joint venture agreement signed between the Bolivian Government and Jindal Steel and Power Ltd (JSPL) to develop the El Mutun iron ore mines has cleared the first step with the Bolivian Chamber of Deputies giving its approval. “The Bolivian Parliament has two Houses — the House of Deputies and the Senate. And the joint venture has got the approval from the House of Deputies. It will now be sent to the Senate after some more details of the contract are analysed,” a senior official of JSPL told Business Line. JSPL along with its subsidiary Jindal Steel Bolivia had signed a contract in July with the Bolivian Government for the development of the El Mutun mines, which is the biggest investment by an Indian company in South America. Funding route
The JSPL official also said that the Bolivian Government was exploring the way to disburse the initial funding for the joint venture company. “The initial investment that is required is around $7 million,” he added. The agreement signed with the Bolivian Government is to develop a 20 billion tonne iron ore mine and setting up a two million tonne steel plant, which is likely to be commissioned by 2010. JSPL is looking at investing $2.1 billion over the next five years in developing the project.
More Stories on : Overseas Investments | Minerals | Policy
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|