KABUL - A consortium of six Indian companies, including four state-owned ones, has bid for a single copper mine project in Afghanistan’s Shaida area from an array of copper and gold deposits that are on offer for development in the mineral-rich country.
“So far, it’s the only one that we have bid on,” Shakeel Ahmed, chairman and managing director of state-run Hindustan Copper Ltd. (513599.BY), told Dow Jones Newswires Wednesday. “That’s the only one which is financially viable.”

Mr. Shakeel further added, around four other international bidders have also submitted proposals and are being evaluated by the Afghan government.
Resource-rich Afghanistan has been scouring the globe for investors to develop its mines in an attempt to raise the living standards of one of the world’s poorest nations through investment.

Promoting Indian business in Afghanistan can be seen as part of a softer push by India to expand its influence in the country, something the U.S. has also encouraged New Delhi to do.
This comes as India’s apex industry body, Confederation of Indian Industry (CII) with the support of the Governments of India and Afghanistan hold a summit to attract foreign investment into Afghanistan, in New Delhi on 28th June.

The objective of this Summit, which was hold in cooperation with relevant Afghan investment and business organizations, was to attract foreign investment into Afghanistan in the light of new opportunities opening up in areas like mining, hydrocarbons and infrastructure, and in traditional sectors like agriculture, industry, capacity-building, health and services. It will also provide a forum to explore business-to-business partnerships across countries.

The Delhi Investment Summit on Afghanistan was organized in line with India’s long term commitment to assisting the people and Government of Afghanistan as they build a peaceful, pluralistic, democratic and prosperous Afghanistan. (KP)