World
  |
|
Bolivia, India seals Muntun negotiations
Prensa Latina
Santa Cruz, Bolivi
Petroleumworld.com 07 17 07
After six months of negotiations, Bolivian government and the Indian Jindal Steel enterprise left the iron and steel project ready for the exploitation of iron in El Muntun deposit, announced an official source on Monday.According to the Mining and Metallurgy Minister, Luis Alberto Echazu, both parts negotiated several items including the new tax system, in order to write the final contract.
Echazu clarified that Jindal will only pay income taxes of 12.5 percent if it exports over 500 dollars of sheet steel
They also discussed the need of an investment warranty ticket the foreign enterprise must give the government, in five-year period; add up to 45 million dollars.
Jindal also approved Bolivian rules referred to the solution to conflicts without turning to international arbitration entities, added Echazu.
Once the document is ready, it must be approved by President Evo Morales and the leading board of El Muntun Iron and Steel Enterprise (ESM).
PL 16 07 07
Copyright© 2007 PL. All Rights Reserved.
Your
feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com
Any
question or suggestions, please write to:
editor@petroleumworld.com
Best
Viewed with IE
5.01+
Windows
NT 4.0, '95, '98 and ME +/ 800x600 pixels