Afghan Iron Ore Deal Close

The Telegraph India reported that Afisco, the SAIL-led consortium that plans to mine iron ore at Hajigak in Afghanistan, is “on the verge of signing an agreement” to start the project, said C.S.Verma, chairman of the state-run steel behemoth.

As reported in the market news:

“We have had four rounds of negotiations … and are close to signing,” Verma said in an interview with The Telegraph.

The $10.8-billion project, which aims to mine high-grade iron ore in a mountainous region near the Bamiyan valley, has been touted as the single-largest foreign investment project in Afghanistan.

Click here for the full Telegraph India news report