80% progress on finalizing the Afghan-Indian iron ore deal

in Afghan Business

80% progress on finalizing the Afghan-Indian iron ore deal

hajigakAccording to the Pajhwok Afghan News Agency (PAN), the Mines Ministry has made 80% progress on finalizing the iron ore contract with the consortium led Steel Authority of India Limited.
The only issue remaining is the transportation factor of iron from the site, which the ministry has said would be resolved soon.

This comes a day after reports had said that the USD 10.8 billion worth of iron ore deal between Afghan government and SAIL led consortium was suspended.

Speaking on the condition of anonymity, a senior official of the Ministry of Mines did not give a reason for the suspension and said the contractors have not “withdrawn from the process”.
He believed the suspension could be due to the refusal of the Chinese to build the railway for the Aynak mine.

The Hajigak deposit contains an estimated 1.8 billion tons of ore, with an iron concentration of 62%, according to the ministry, basing its figures on a survey carried out in the 1960s.

Besides SAIL, other members of the consortium include state-owned NMDC and RINL and private sector steel players — JSW, JSW Ispat, Jindal Steel and Power, and Monnet Ispat and Energy. SAIL has the maximum 20 per cent stake in the venture, while NMDC and RINL hold 18 per cent each. Private players JSW Steel and JSPL hold 16 per cent each, while JSW Ispat and Monnet have 8 per cent and 4 per cent stakes respectively.

Afghanistan’s mining sector is considered to be the key driving factor of the economy after the withdrawal of foreign forces.



Related Articles

MPs clash over summoning ministers

PAN-Two Wolesi Jirga members on Monday nearly came to blows on the issue of summoning a dozen ministers who spent less than

Herat Expected To Produce 8,000 Tons of Figs This Year

Officials of the agriculture department in Herat have reported about a 7% increase in the province’s fig production. “Fig production

Coins from 1st century AD returned to Kabul Museum

As many as 215 coins of the Kushan-era in the 1st century AD were returned to Afghanistan National Museum at

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.

cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china