Editing Economy of Bolivia (section)

====Mutun iron ore project====
In 2007, India's third-largest steel manufacturer, [[Jindal Steel and Power Limited]], signed a contract with the Bolivian government to exploit the [[El Mutun|Mutun]] iron ore deposit, considered to be one of the largest in the world. According to the contract, Jindal would invest US$1.5&nbsp;billion initially and an additional US$2.5&nbsp;billion over the next eight years. This is the single largest investment by an Indian firm in Latin America.<ref>{{cite news | url=http://www.theaustralian.news.com.au/story/0,25197,22858026-5005200,00.html | work=The Australian | title=India's Bolivian ore | date=3 December 2007 | access-date=3 December 2007 | archive-url=https://web.archive.org/web/20071205011554/http://www.theaustralian.news.com.au/story/0,25197,22858026-5005200,00.html | archive-date=5 December 2007 | url-status=dead }}</ref> Jindal Steel will set up an integrated 1.7 MTPA steel plant, a 6 MTPA sponge iron plant, a 10 MTPA iron ore pellet plant and a 450 MW power plant.<ref name="Jin">{{cite web|url=http://www.indiainfoline.com/Markets/News/Jindal-Steel-and-Power-expects-10-12-percent-growth-in-Indian-steel-consumption/3936250780|title=Jindal Steel and Power expects 10–12% growth in Indian steel consumption|access-date=11 June 2015|archive-url=https://web.archive.org/web/20130509132547/http://www.indiainfoline.com/Markets/News/Jindal-Steel-and-Power-expects-10-12-percent-growth-in-Indian-steel-consumption/3936250780|archive-date=9 May 2013|url-status=dead}}</ref> By September 2011, Jindal had obtained clearance for the project from the EIA and had hired an engineering consultant for [[Front-end loading|FEED work]].<ref name="Jin"/> The project is expected to create 6,000 jobs directly and another 15,000 indirectly.<ref>[http://afp.google.com/article/ALeqM5gVpRQ9-JLWmbpxT08MJw-E5yxQBw AFP: Bolivia OKs Indian firm to mine vast iron deposit<!-- Bot generated title -->] {{webarchive|url=https://web.archive.org/web/20071208204706/http://afp.google.com/article/ALeqM5gVpRQ9-JLWmbpxT08MJw-E5yxQBw |date=8 December 2007 }}</ref>

As of June 2011, Jindal had invested only US$20&nbsp;million on the project due to considerable delay by Bolivian authorities in issuing land for the project and due to inability of the Bolivian government to commit 8 million cubic meters of natural gas per day for the power plant and ore smelting process.<ref>{{cite web|url=http://www.hidrocarburosbolivia.com/bolivia-mainmenu-117/analisis-y-opinion/44327-la-espera-del-mutun-editorial.html|title=La espera del Mutún (Editorial)|work=Hidrocarburosbolivia.com|access-date=11 June 2015|archive-url=https://web.archive.org/web/20131027210505/http://www.hidrocarburosbolivia.com/bolivia-mainmenu-117/analisis-y-opinion/44327-la-espera-del-mutun-editorial.html|archive-date=27 October 2013|url-status=usurped}}</ref> In 2012 Jindal exited Bolivia, prompting Bolivia to seize the bond. In 2014, international arbitration awarded Jindal $22.5 Million due to Bolivia's seizure of the bond.<ref>{{cite web| url = https://www.wsj.com/articles/bolivia-to-appeal-ruling-favoring-indias-jindal-in-el-mutun-dispute-1409074729| title = Bolivia to Appeal Ruling Favoring India's Jindal in El Mutún Dispute - WSJ}}</ref>