Indian Steel, Mining Companies Bid for Afghan Iron Ore Mine

Steel Authority of India Ltd. (SAIL) and JSW Steel Ltd. (JSTL) are among seven Indian steel and mining companies that have jointly bid for Afghanistan’s Hajigak iron ore mines, Steel Authority chairman C.S. Verma said.

State-run miner NMDC Ltd. (NMDC), Jindal Steel & Power Ltd. (JSP), Monnet Ispat Ltd., Rashtriya Ispat Nigam Ltd. and JSW-Ispat Steel Ltd. are the other members of the group bidding for the reserves. The reserves may hold 2 billion metric tons of iron ore and require about $3 billion of investments over 30 years.

“The bids will be opened tomorrow,” Verma said by phone today. “I am expecting bids from Chinese and Iranian companies for the reserves.”

The Steel Authority may issue an official statement tomorrow after the bids are opened, Verma said.

To contact the reporter on this story: Rajesh Kumar Singh in New Delhi at rsingh133@bloomberg.net

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net

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