Bolivia signs major iron ore deal

Project with India's Jindal is expected to create as many as 21,000 jobs.

    Morales said the joint venture resulted from what he called "very tough" negotiations [EPA]
    The agreement calls for a $1.5-billion investment by Jindal in the first five years, followed by $2.1 billion during the estimated 40 years it will take before the mine is exhausted.
     
    "I know its Bolivia's biggest project and I want to see that it is carried out well," said Vikrant Gujral, Jindal Steel vice president.

    "The work is done. We've waited more than 50 years for this," said Evo Morales, Bolivian president, who was present at the signing ceremony in eastern Santa Cruz city along with Gujral and Walter Chavez, Empresa Siderurgica president.

    The joint agreement resulted from what Morales called "very tough" negotiations that began in June 2006.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    'We will cut your throats': The anatomy of Greece's lynch mobs

    The brutality of Greece's racist lynch mobs

    With anti-migrant violence hitting a fever pitch, victims ask why Greek authorities have carried out so few arrests.

    The rise of Pakistan's 'burger' generation

    The rise of Pakistan's 'burger' generation

    How a homegrown burger joint pioneered a food revolution and decades later gave a young, politicised class its identity.

    From Cameroon to US-Mexico border: 'We saw corpses along the way'

    'We saw corpses along the way'

    Kombo Yannick is one of the many African asylum seekers braving the longer Latin America route to the US.