Venezuela, Jindal Steel Are Said to Sign Deal on Iron-Ore Mill
- Agreement is a contract for operating plants in Bolivar state
- Deal was signed on Friday in Caracas, person familiar says
This article is for subscribers only.
Venezuela’s government and Jindal Steel & Power Co. have signed an agreement for the Indian company to run the country’s largest iron-ore producing plant, according to a person with knowledge of the matter, marking the first entry in years by an international firm into the South American nation’s closely held companies.
Nicolas Maduro’s government signed off on a deal for Jindal Steel & Power to operate CVG Ferrominera Orinoco, Venezuela’s largest iron-ore plant, according to a person who asked not to be identified as the information hasn’t been made public. No details of the agreement, which was inked Friday, were provided.