$350bn bid by 'Team India' for Afghan iron ore deposits.

[HellzHere]

Faced with stiff competition from global players, leading Indian steel makers — SAIL, Tata Steel, JSW and ArcelorMittal — are in talks to form a consortium that will bid as a single entity to tap Afghan iron ore deposits that are estimated by the Kabul government to be worth $350-billion (R15.8 lakh crore).

If successful, the consortium will become one of the world’s strongest, financially. The Hajigak iron ore reserves in Afghanistan are estimated at 2 billion tonnes.

Sources familiar with the development said the Indian firms and ArcelorMittal, led by Indian Lakshmi Mittal, were mulling a consortium as it would be difficult for them individually to match their global peers participating in the bids. These include a Chinese firm that already has a presence in Afghanistan through the $40-billion (R1.8-lakh crore) Aynak copper mine south of Kabul.

SAIL chairman CS Verma told HT, “SAIL has participated in expression of interest for Hajigak deposits. While there have been informal discussions between shortlisted Indian firms, no decision has been taken yet on the proposal for joint bidding by consortium.” A spokesperson for ArcelorMittal said in an email response: “we do not comment on market rumours”. Mails sent to Tata Steel and JSW remained unanswered.

Last month, Afghan mining minister Wahidullah Shahrani had said that Tata Steel and JSW are among 22 companies that will be bidding for the Hajigak deposits.

http://www.hindustantimes.com/Team-...Afghan-iron-ore-deposits/Article1-671054.aspx

 

[Paan Singh]

surely an american firm will win

 

[blackops]

surely an american firm will win

You cant be sure if they form a group and go for it i dont think so they will face much problem

 

[DelhiDareDevil]

Very happy to see Team India doing a bid, then a individual Indian firm.

 

[KS]

Is Lakshmi Mittal holding Indian passport ??

But even if he is not (which I suspect is the case) , under Arcelor-Mittals leadership this will be the overwhelming favourite.

 

[Kinetic]

What $ 350 billion bid in Afghanistan? Thats lot of money!!! US companies will have the upper hands.

Why we need to bid so much for iron deposits while we have one of the largest deposits of iron ore in the world!!!!

 

[JayAtl]

Americans can't touch that team of big boys from India in steel.. it's losing manufacturing plants- infact it imports steel form china a lot. NOR can it touch the labour cost!

plus- afghan rather see less American hanging around after 2014 for political reasons.

Team India should also pull a Pakistan company into it too... that would be a freaking awesome move. I'm telling you - I'm brilliant about that call.. Hire Pak Project mangers too- to deal with afghan skilled labour groups. if you think from your brain and the thoughst are about economic victory then having a PAk company as part of the team will be a winning strategy!

 

[tallboy123]

^^Involving a pak company in this bid will reduce the chances of our companies to 0.1% to win the bid .....
Thank god,ur not the CEO of those 5 Indian companies

 

[truthseeker2010]

First of all you indians should understand that value of those deposits is estimated to be 350 billion, the companies wont be biding that much amount, it would be much less. Second it wouldn't be a peanut pick for indian companies when such a huge amounts are involved.

 

[ali_raza]

hahahaha u r talking about afghanistan..,,,,,,,,,,not bangladesh,,,,u indians do ur bid waste ur money there,,and our babies hikmatyar and haqqani will take care or u,,,,

 

[JayAtl]

^^Involving a pak company in this bid will reduce the chances of our companies to 0.1% to win the bid .....
Thank god,ur not the CEO of those 5 Indian companies

LOL , how so? Pak company will give us access to afghanistan through pakistan . making the costs go down further- Plus having another muslim country helps politically. How did yo figure the chances will go down? I hire Pak's too in the US - they are smart cats... so its not a question of hiring talent. what are you basing it on?

 

[JayAtl]

First of all you indians should understand that value of those deposits is estimated to be 350 billion, the companies wont be biding that much amount, it would be much less. Second it wouldn't be a peanut pick for indian companies when such a huge amounts are involved.

nothing is peanut pick. hell Pakistan asks china to start projects in Pakistan. china charges Pakistan ridiculous pricing and terms and then even tells Pakistan that none of your industries will be allowed to have a majority involvement in your own projects- they will done / business given to Chinese companies- so yeah nothing is a peanut pick in any business deals - but that team are world known powerhouses they negotiate better.

 

[ChinaToday]

team china will win in the end

 

[cross1993]

China is the users of those iron ore, so we can give the best price.

 

[Roybot]

China is the users of those iron ore, so we can give the best price.

These are steel companies mate, not iron ore mining companies. They will be getting iron ore for their own steel plants.

Even then, from my experience Koreans always manage to offer better price than the Chinese, when it comes to buying iron ore.