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07 January 2012 at 14:00 IST
India consortium to invest in iron ore exploration in Afghanistan
KOLKATA (Commodity Online): The Indian consortium, named Afghanistan Iron & Steel Consortium (AFISCO), to invest Rs 375 crore in intial phase of exploration for iron ore in the Hajigak in Afganistan.
AFISCO led by state run Steel Authority of India Limited (SAIL), had won the bid for iron ore mining rights in the area in November 2011 and will invest around 55,000 crore ($11 billion) to develop mines, build a steel plant and create infrastructure.
The Indian consortium will play an important role in developing the infrastructure of the Hajigak.
JSW Steel, JSW Ispat, JSPL, RINL, NMDC and Monnet Ispat are the oyhjer members of the consortium.
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