India Consortium Seeking State Funding for Afghan Iron Ore Project

- December 27th, 2011

IBTimes reported the consortium of seven Indian companies that won mining rights to develop an Afghan iron ore deposit has requested government help.

IBTimes reported the consortium of seven Indian companies that won mining rights to develop an Afghan iron ore deposit has requested government help.

As quoted in the market news:

The proposal laid by the Afghan Iron & Steel Consortium reportedly has the support of India’s steel ministry, Bloomberg News said. The ministry will assist in soliciting loan approvals from foreign and finance ministries, but without saying a deadline.

The consortium said it needs $11 billion to mine the Hajigak deposit, build a steel mill, a power plant and transport links.

Click here to read the full IBTimes report.

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