Afghan Iron & Steel Consortium, which includes seven Indian companies and is led by India's state-owned Steel Authority of India Ltd (SAIL), is scaling back its iron ore investment in Afghanistan, according to media reports.
The Indian consortium has had to cut the proposed capacity and investment for the planned $11 billion iron ore project in Kabul by 80 percent due to lack of funding.
The consortium now expects to produce 2.5 million mt of iron ore per year from the Hajigak deposit located west of Kabul in Afghanistan.