The SAIL-led consortium that bagged mining rights
for three iron ore mines at Hajigak will sign the final agreement
with the Afghanistan government soon, a top official said.
“We are in the process of finalizing the documentation and will soon be in
a position to finalize and sign the document,” SAIL Chairman C S Verma.
The final agreement will entitle SAIL-led consortium Afisco (Afghan Iron and
Steel Consortium) to explore, develop and exploit the Hajigak deposits.
Verma said the consortium had sent a team to negotiate the agreement and the
first round of discussions has taken place. The team recently returned to India
after successful negotiations.
Aifsco, which had in November last year bagged the mining rights for the three
blocks, plans to invest USD 10.8 billion over 8-10 years to develop the mines
as well as set up a 6.12 million tonnes per annum steel plant and a 800-MW
power plant.
Source: The Economic Times
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