A seven member conglomerate led by SAIL has secured the development right to develop mines in Central Bamiyan province of Afghanistan.
The consortium has bagged rights worth $10.3 billion (approx Rs 52,520 crore) to develop three out of four iron ore reserves at Hajigak in Central Bamiyan province. It has won the rights to mine B, C and D, having reserves of 930 million tonne, 357 million tonne and 175 million tonne respectively. SAIL will have the majority 20 per cent stake in the SPV which is to be created for the development of the mines, while two other members Rashtriya Ispat Nigam and NMDC - will have 18 per cent stake each. Other than these, JSW Steel and Jindal Steel & Power will have 12 per cent stake each in the SPV while JSW Ispat and Monnet Ispat will have the remaining 10 per cent each.
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