Indian company to produce gas in BoliviaApril 25th, 2009 - 10:42 pm ICT by IANS
La Paz, April 25 (EFE) India’s Jindal Steel and Power expects to start producing gas in Bolivia in June for export to Argentina, company representatives told the Andean nation’s president here.
Vikrant Gujral, vice president of the steel and energy major, told reporters about the company’s plans after Friday’s meeting with President Evo Morales, saying the gas supplies would come from a processing plant in the eastern province of Santa Cruz.
The company and its Bolivian partners began drilling at the El Palmar gas field at the end of March and have already invested around $7 million in the project.
Gujral said Morales was also informed about the progress in developing El Mutun, a giant iron ore field located in eastern Bolivia near the Brazilian border.
Jindal Steel has been working since 2007 at El Mutun, which is believed to contain some 40 billion tonnes of iron ore, making it one of the world’s largest deposits of the mineral.
The company has pledged to invest $2.1 billion in El Mutun over the next 40 years as part of a joint-venture deal with the Bolivian government.
Extraction of iron ore at El Mutun has been delayed because at least half of the 6,000 hectares that the Bolivian government assigned to Jindal to develop the deposit constitutes privately owned property that must be expropriated.
Gujral also told reporters that Mining Minister Luis Alberto Echazu was present at the meeting with Morales and that the head of state instructed him to work on resolving the land-ownership issues.
- Jindal Steel to exit Bolivia's largest mining project - Jun 11, 2012
- Jindal to export 1 mn tonnes of Bolivian iron ore in 2011 - Jan 21, 2011
- Bolivia asks Jindal to honour $2.1 bn investment pledge - Dec 31, 2009
- 'Jindal's steel and power project will transform Bolivia' - Jun 16, 2011
- Jindal Steel gets 3,000 acres for Bolivian project - Aug 22, 2010
- Jindal to export 80,000 tonnes of Bolivian iron ore - Nov 12, 2009
- Bolivia nationalises Spanish-owned firm - May 02, 2012
- Spanish energy firm to invest $640 mn in Bolivia - Nov 24, 2011
- Bolivia pursues hydro-power deal with China - Jul 30, 2012
- 350 couples marry in Bolivia - May 10, 2011
- Bolivia plans $1.73 bn in energy investments in 2011 - Dec 27, 2010
- Bolivian firm introduces coca-based soft drink - Jan 19, 2011
- Bolivian army to sell bread to prevent shortages - Jan 01, 2011
- Bolivia to buy satellite from Chinese firm - Dec 14, 2010
- Bolivia to invest nearly $125 mn in power projects - Mar 18, 2010
Tags: 1 billion, andean nation, bolivia la paz, bolivian government, company representatives, eastern bolivia, eastern province, efe, evo morales, extraction of iron, extraction of iron ore, head of state, hectares, jindal steel and power, joint venture, luis alberto, president evo morales, santa cruz, tonnes, venture deal