Peru's National Port Authority announced Monday that Bolivia may invest up to $400 million in Peru's Ilo port, which would allow New Delhi, India-based Jindal Steel & Power Ltd. to export iron ore from Peru's El Mutun mine.
Bolivia is interested in utilizing the Ilo port to export iron ore and other minerals to Asia, as well as import goods that are usually brought into the country via land transportation from Chile.
Jindal is said to invest an additional $2.1 billion in the land-locked El Mutun mine, which is expected to begin exporting iron ore pellets as early at 2011.