Almost every day, in this blog, I write about the investments made by foreign companies in India. I do not get too many opportunities to write about the investment of Indian companies in other countries. So, I am happy to inform you that Jindal Steel and Power Ltd., the third biggest steel company of India has won a contract in Bolivia to develop El Mutun mine. Jindal Steel will invest nearly $2.3 billion to mine ore and produce steel from the mine. Then it will be the largest investment in a single project in the country. Bolivia has 12% of world iron reserve and the country is very rich in natural gas too. Thus, Jindal Steel has perhaps hit the jackpot and if the company can handle this deal successfully then it can look forward to getting more contracts from other South American countries.
This news shows that Indian companies are gradually becoming matured to operate outside of India. Well, still, Indian companies are far behind than Chinese and Malaysian companies in this field, let alone Japanese and Korean companies. I wish Indian companies become more active in expansion.
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Date: 10/6/06
Dear Sir,
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Your earliest reply would be highly appreciated.
Thanking You,
FOR INDUSTRIAL MINERALS
INDUSTRIAL MINERALS
E/002, NAVYUG SOC,
AAREY CHECKNAKA JUNCTION,
W.E. HIGHWAY, GOREGAON (EAST),
MUMBAI 400063 (INDIA)
Ph: 022-56267933
Tel Fax: 022– 28775993
EMAIL : indminerals@vsnl.net
Contact Person: Hemendra Shah, Sudeep Shah.
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Posted by: sudeep shah | June 10, 2006 7:36 AM | Permalink to Comment