{"id":11666,"date":"2012-06-20T23:36:14","date_gmt":"2012-06-20T21:36:14","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-indias-jindal-seeks-alternative-to-bolivia-deal\/"},"modified":"2012-06-20T23:36:14","modified_gmt":"2012-06-20T21:36:14","slug":"update-1-indias-jindal-seeks-alternative-to-bolivia-deal","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-indias-jindal-seeks-alternative-to-bolivia-deal\/","title":{"rendered":"UPDATE 1-India’s Jindal seeks alternative to Bolivia deal"},"content":{"rendered":"

\t\t<\/span><\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

By Silvia Antonioli<\/p>\n

<\/span><\/p>\n

NEW YORK, June 20<\/span> (Reuters) – India’s Jindal Steel Power
\nLtd is looking for alternative coal and iron ore
\nprojects following a disagreement with Bolivia over power
\nsupplies for it $2.1 billion venture in the country, the
\ncompany’s top executive told Reuters on Wednesday.<\/p>\n

<\/span><\/p>\n

Chairman and managing director Naveen Jindal said the
\ncompany is now looking elsewhere in South America, as well as in
\nAfrica and Australia.<\/p>\n

<\/span><\/p>\n

Jindal Steel has given Bolivia notice it is making plans to
\nscrap its iron ore and steel investment in the country because
\nthe government had not met contract terms to supply natural gas
\nfor the project.<\/p>\n

<\/span><\/p>\n

“For the last five years we were so focused on Bolivia that
\nwe stopped looking as well, but now we are looking elsewhere. We
\nknow we can make it happen elsewhere,” Jindal said in an
\ninterview on the sidelines of the AMM Steel Success Strategies
\nconference.<\/p>\n

<\/span><\/p>\n

The search is also part of the company’s plan to raise its
\nself-sufficiency in raw materials to 80 percent to 90 percent by
\n2015 from 70 percent currently.<\/p>\n

<\/span><\/p>\n

The project in Bolivia – the country’s single largest
\nforeign investment – will be scrapped unless the government
\noffers more support and accepts a smaller version of the
\noriginal venture due to smaller than expected gas availability.<\/p>\n

<\/span><\/p>\n

“If they respond to that favorably, then we can talk. We are
\nkeen to do the project, but on fair terms, Jindal said. “So if
\nthey offer one fourth of the amount of gas which they had
\npromised before, they have to realize that the whole project has
\nto be reconfigured.”
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By Silvia Antonioli NEW YORK, June 20 (Reuters) – India’s Jindal Steel Power Ltd is looking for alternative coal and iron ore projects following a disagreement with Bolivia over power supplies for it $2.1 billion venture in the country, the company’s top executive told Reuters on Wednesday. Chairman and managing director Naveen Jindal said the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11666","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11666"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11666\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}