India's SAIL steel plans to invest Us $ 11 billion in Afghanistan: chairman

[Adnan Faruqi]

India's SAIL steel plans to invest Us $ 11 billion in Afghanistan: chairman

Steel Authority of India or SAIL, the biggest state-owned company, is planning to invest $ 11 bn over 8-10 years in Afghanistan.

Steel Authority of India or SAIL, the biggest state-owned company, is planning to invest $ 11 bn over 8-10 years in Afghanistan. This could be the single largest investment by an Indian company in the war-torn nation.

“The company is looking to set up a 6 million tons steel plant in two phases,” SAIL chairman Chandra Shekhar Verma told reporters.

The company has asked Afghanistan to provide the requisite land and other infrastructure the plant. The company has also bagged 1.2 billion ton iron ore mines in the country through a consortium.

“The investment would be by consortium of Indian companies and and would need guarantee from both Afghan and Indian government,” he added.

On Tuesday, the company announced that it was investing Rs 375 crore for detailed exploration of three iron ore mines bagged in Hajigak, Afghanistan.

A consortium of seven Indian steel makers, both public and private, led by Steel Authority of India (SAIL) bagged the development rights to mine in three iron ore blocks - B, C and
D - at Hajigak in the Central Bamiyan province of Afghanistan.

"The Hajigak iron ore deposits estimated iron ore reserves are approximately 1500 mt,," SAIL said in a statement.

Apart from SAIL, NMDC Ltd, Rashtriya Ispat Nigam, JSW Steel, Jindal Steel & Power, JSW Ispat and Monnet Ispat are the members of the consortium.

India

 

[CaptainJackSparrow]

Welcome move. However, a lot depends on how the endgame in Afghanistan turn out.

No company can afford to lose a capital investment of $11bn.

 

[Abhishek_]

good for AF-IN relations. more investments flowing in their nation, more raw materials flowing in ours.
A win-win

 

[rai_kamal]

And who will ensure security of all this investment ???
At first,establish the good military presence over there as the amount invested is very high..
Man security concerns are there for the investors,its good that china is also investing in that area so threats may come down for India too..

 

[Abhishek_]

^that's why IA is training ANA, and afghanis are pushing for training on ever larger scale.

 

[blain2]

A few billion in aid to the ANA from India may help:

Afghanistan faces $4bn defence funding shortfall | World news | guardian.co.uk

 

[illusion8]

goodness gracious Thats a huge deal for AF-India, Welcome to the real world Afghanistan.

 

[illusion8]

Welcome move. However, a lot depends on how the endgame in Afghanistan turn out.

No company can afford to lose a capital investment of $11bn.

All pro's and cons are factored in before making an announcement the business heads in the corporate companies think way beyond the future before venturing in, They need all sorts of assurances once its assured they declare a deal. There definitely seems to be a bright future for Afghanistan

 

[opps]

Good.Let India set up the infro for steel plant then china can takeover the operations of it .thats why china didnot bid for these mines at all.

 

[illusion8]

Good.Let India set up the infro for steel plant then china can takeover the operations of it .thats why china didnot bid for these mines at all.

Are you sure you are an Indian???

 

[Abhishek_]

^uncle wen told him he is Indian

 

[illusion8]

A few billion in aid to the ANA from India may help:

Afghanistan faces $4bn defence funding shortfall | World news | guardian.co.uk

They wont need aid if they can do commerce its better for a country to stand up on its own with its self respect intact. Other countries will respect that.