Major Indian steel company readies plans to scrap huge mining project in Bolivia

Monday, June 11th 2012 - 05:34 UTC

Full article 3 comments

India's Jindal Steel & Power said on Saturday it was making plans to scrap a 2.1 billion dollars steel project in Bolivia, saying the Bolivian government had not met contract terms that include supply of natural gas for the project. Read full article

Comments

Disclaimer & comment rules

GeoffWard2
Its sad for India's Jindal Steel & Power and its arguably sad for Bolivia, but if Argentina needs Bolivia's gas, then it must be Bolivia's priority to keep Argentina going, no matter how hard this makes things for its own people.
Jun 11th, 2012 - 10:39 am - Link - Report abuse 0
-+
jerry
Oh well. It just saved them from having the project taken from them by the government; after a huge investment.
Jun 11th, 2012 - 02:22 pm - Link - Report abuse 0
-+
rnbgr
Probably the best decision for both parties. Large infrastructure projects related to minerals or energy by foreign companies are always going to be contentious. This one looks like it died befored it started, the company can reallocate those funds somewhere else and Bolivia can rebid the project to someone else or set up a state company if it feels there is need.
Jun 11th, 2012 - 08:21 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!