India's Jindal wins bid for giant Bolivian iron mine
AFP, June, 2006
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LA PAZ (AFP) — India's Jindal Steel and Power has been given the rights to develop one of the world's biggest iron ore deposits in Bolivia after promising a 2.3 billion dollar investment, the government said.
Jindal was the sole final bidder for the Mutun mine in eastern Bolivia, and its package of economic, technology and environment benefits convinced the government to accept its bid.
The mega-project would be the first move into the iron and steel industry for Bolivia, South America's poorest country.
"No longer will we depend only on income from producing and exporting raw materials, but also we will get income from iron and steel," said Development and Planning Minister Carlos Villegas.
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"In other words, we will launch an iron and steel industry, and this is an important contribution to the country, to the state and to the region."
The decision ...
