{"id":11667,"date":"2012-06-20T23:36:15","date_gmt":"2012-06-20T21:36:15","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-indias-jindal-looking-at-coal-iron-ore-projects-chairman\/"},"modified":"2012-06-20T23:36:15","modified_gmt":"2012-06-20T21:36:15","slug":"update-1-indias-jindal-looking-at-coal-iron-ore-projects-chairman","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-indias-jindal-looking-at-coal-iron-ore-projects-chairman\/","title":{"rendered":"UPDATE 1-India’s Jindal looking at coal, iron ore projects-chairman"},"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
\n(JSPL) has started looking for alternative coal and
\niron ore projects to its $2.1 billion Bolivian project after a
\ndisagreement with the country’s government over power supplies,
\nthe company’s chairman and managing director told Reuters on
\nWednesday.<\/p>\n

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

The company has shifted its focus away from Bolivia after
\ngiving the government notice to terminate its iron ore and steel
\ninvestment in the country due to the lack of support from the
\ngovernment.<\/p>\n

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

It is now looking elsewhere in South America, as well as
\nAfrica and Australia, Naveen Jindal said in an interview on the
\nsidelines of the AMM Steel Success Strategies conference.<\/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,” he said.<\/p>\n

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

The search for raw materials is also part of the company’s
\naim to raise its raw materials self-sufficiency level to 80-90
\npercent by 2015. That is up 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 plan due to the smaller than previously expected gas
\navailability, Jindal said.<\/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 so if they offer one
\nfourth of the amount of gas which they had promised before, they
\nhave to realizes that the whole project has to be reconfigured,”
\nJindal said.
\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 (JSPL) has started looking for alternative coal and iron ore projects to its $2.1 billion Bolivian project after a disagreement with the country’s government over power supplies, the company’s chairman and managing director told Reuters on Wednesday. The company has shifted its […]<\/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-11667","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\/11667","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=11667"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}