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| Naveen Jindal |
Naveen Jindal-led Jindal Steel and Power's (JSPL) ambitions USD 2.1 billion investment plan in Bolivia is all but over as the company has said it is "not hopeful of continuing" with the project, which was touted as the biggest foreign investment plan in the Latin American country. Through its subsidiary Jindal Steel Bolivia (JSB), the company had in 2007 secured 40-year development rights to the El-Mutun iron ore mine, which holds reserves of around 20 billion tonnes, considered to be one of the largest untapped iron ore deposits in the world. However, with no commitment from the Boivian government over supply of natural gas - which is critial for the project - ti seems to be headed for a failure.
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