India SAIL-led consortium sees $11 billion investment in Afghanistan

A consortium of Indian companies led by Steel Authority of India will need a total investment of $11 billion in a planned steel plant and to develop iron ore mines in Afghanistan, the steelmaker's chairman said on Wednesday.
The Afghan government awarded the rights to develop three blocks of the huge Hajigak iron ore concession in central Afghanistan to the consortium, while a fourth block at the deposit was won by Canada's Kilo Goldmines Ltd.
The Indian consortium plans to build a steel plant in Afghanistan with an annual capacity of 6 million tonnes, SAIL Chairman C.S. Verma told reporters in New Delhi, adding the plant would need investment of $7 billion to $7.5 billion and the remainder would be for developing the mines. State-run SAIL is the biggest steelmaker in India, with an annual capacity of about 15 million tonnes.