Jindal may scrap Bolivia project

New Delhi: Jindal Steel & Power ( JSPL) said on Saturday it was making plans to scrap a $2.1 billion (around 11,550 crore) steel project in Bolivia, saying the Bolivian government had not met contract terms that include supply of natural gas for the project. The steel and power producer said it had served its “intent to terminate the contract” and the Bolivian government had 30 days to resolve the issues. “In case government of Bolivia comes out clean and informs as to how much gas it can actually supply and agrees to reconfigure plant capacity and investment and amend the contract JSPL can consider staying back,” a Jindal Steel statement said. — Reuters

Source: ET