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

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    We Are Still Here: A Story from Native Alaska

    We Are Still Here: A Story from Native Alaska

    From Qatar to Alaska, a personal journey exploring what it means to belong when your culture is endangered.