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

    Pie peace: My last argument with my sister

    Pie peace: My last argument with my sister

    In a family of 13 siblings, Lori was militant in her maternal agenda; making prom dresses and keeping watch over pie.

    From the US to Afghanistan: Rediscovering the mother who left me

    From the US to Afghanistan: Rediscovering the mother who left me

    Tracee Herbaugh's mother, Sharon, abandoned her when she was born, pursuing a career from which she never returned.

    Could mega-dams kill the mighty River Nile?

    Could mega-dams kill the mighty River Nile?

    For Ethiopia, a new dam holds the promise of much-needed electricity; for Egypt, the fear of a devastating water crisis.