A consortium of Indian companies has won the rights to develop Afghanistan’s largest iron ore deposits, a mining ministry official said Tuesday, underscoring growing ties between the two countries.
Seven Indian companies, led by the state-owned Steel Authority of India (SAI), won a $10.3 billion deal to exploit three of four blocks at the Hajigak mine in Bamiyan, central Afghanistan, said ministry official Abdul Jalil Jumrani.
A fourth block was awarded to Canada’s Kilo Goldmines, he said, with contracts due to be signed in February or March and exploitation of the mine’s estimated two billion tonnes of iron ore deposits expected to begin by 2015.
Last month, Afghanistan signed a strategic partnership deal with India aiming to boost trade, security and cultural links, triggering consternation in neighbouring Pakistan, India’s arch-rival for influence in the region.
Afghanistan is believed to have mineral reserves worth as much as $3 trillion which could theoretically generate billions of dollars in tax revenue for the troubled country.
But exploitation of these resources faces massive hurdles due to ongoing instability after 30 years of war in the country, woeful infrastructure, and endemic corruption.
As part of the Hajigak deal India has pledged to invest in surrounding infrastructure projects, including $1 billion to build a railway and monies for a 800-megawatt power plant and 200-kilometre (140-mile) road, Jumrani said. Kilo Goldmines will invest $3.2 billion, he added.
That development speaks of what has been our priority and what others have been doing silently. damned ISI, damned ARMY
or, rather what kind of priority wins …
Don't damn ISI and ARMY.
If you have to say what you are saying direct it to your political leaders.
Take care of Reko Diq.
Your Presidents ministers go to National Institute of Health (NIH) in Islamabad and ask plots to build petrol pumps. Your Railway minster sits and asks for his share in office meetings. What a joke!.
if you have to condemn condemn these people not those who lay their life whilst you sleep at home.
Then its a party time for india. india has a huge rool in afgan economy.
Pakistan to boycott Bonn Conference: http://nation.com.pk/pakistan-news-newspaper-dail…
haa well…… its better for pakistan to stay away from afganistan. from now afganistans future will improve without pakistans involvement. I hope Afghanistans good days will start from today.
The issue is not sub-continental politics and parties, it's rather what it brings to Afghan people. Expecting this development project will do some good to them. Afghans are nice people and Afghanistan is a beautiful country (as is India and Pakistan). They have been used and abused in the name of 'religion' and '-isms' and suffered for a long time.
I wish the future smile on them…
india did good job now lets see how it can be done!!
in simple words paki will not let india to complete this deal i would like ot say that please india be redy
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