NEW DELHI - A consortium of Indian state-owned companies will submit bids for copper and gold mines in Afghanistan by the middle of July, a senior executive at one of the companies said Friday.
"We need to submit the bids now, otherwise we may just miss the bus," Shakeel Ahmed, chairman and managing director of state-run Hindustan Copper Ltd., told reporters.
The consortium was examining four mining sites and will bid for at least two copper mines, he said.
The consortium also includes Steel Authority of India Ltd., National Aluminum Co. and Mineral Exploration Corp. Mr. Ahmed said the group has short-listed two of three private companies which had shown interest in taking part in the projects.
Resource-rich Afghanistan has been scouring the globe for investors to develop its mines in an attempt to lift one of the world's poorest nations out of misery through investment.
Afghanistan's Ministry of Mines said companies from the U.S., Canada, U.K., United Arab Emirates, Turkey and Australia had also expressed interest in the projects.
As the U.S. prepares to withdraw most of its forces by the end of 2014, Afghanistan is looking for ways to gradually reduce its dependence on foreign assistance.
On Thursday, top Afghan and Indian officials and industry leaders sought to woo investors in New Delhi, trying to assuage their concerns over security and political instability in the country.
Mr. Ahmed said Friday transport of the mined ore won't be a problem as the Afghan government was constructing rail links from the sites.
Analysts say there is more to India's commercial drive in Afghanistan than a desire to seek out economic opportunities.
Promoting Indian business in Afghanistan can be seen as part of a softer push to expand its influence in the country, something the U.S. has also encouraged New Delhi to do.
India sees this largely as a way of balancing Pakistan's ambitions and the Taliban in Afghanistan. New Delhi's growing involvement in Afghanistan, particularly its training of local troops, has worried Islamabad, which sees Afghanistan as falling within its sphere of influence. (Agencies)