|
| Jindal Steel ropes in Mecon for consultancy for Bolivia project |
| Press Trust of India / New Delhi Jul 31, 2008, 14:40 IST |
|
Leading steel producer Jindal Steel and Power Limited has roped in state-run Mecon to provide consultancy services for its $ 2.1 billion steel and mining projects in Bolivia.
Jindal Steel Bolivia had a few months ago acquired mining rights in the Latin American country and has now entered into an agreement with Mecon for detailed engineering and consultancy services, a Mecon spokesperson told PTI.
He said the Jindal project includes a mining and beneficiation complex to handle 25 million tons of run-of-mine iron ore, a 10 million tonne pellet plant and a 6 million tonne gas-based direct reduced iron making facilities.
It also has an electric arc furnace shop to produce about 2 million tons of steel, a light section and bar mill, a natural gas-based power plant of 550 Mw capacity and other associated facilities. The project is likely to be completed in the next five years.
Jindal Steel Bolivia (JSB) has obtained mining rights in the Mutun iron-ore deposits of the Latin American country. El Mutun is believed to contain one of the world's biggest iron-ore reserves of about 40 billion tonne.
JSB has been allotted about 55 sq km of land for mining activities and setting up of a beneficiation complex, an integrated steel plant and a natural gas-based power plant.
The company plans to invest $ 2.1 billion over the next eight years in Bolvia for projects in steel, mining and power sectors. The company had earlier said that the Bolivia project would create ample job opportunities for people.
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
Content Guide
