BS reported that Fox Mandal & Co has been appointed as the legal advisor to a seven member consortium of leading Indian state run and private companies led by Steel Authority of India, which has been awarded mining rights for the Hajigak iron ore deposit in Afghanistan.

The firm will mainly be involved in assisting the consortium in negotiations and drafting of the necessary agreements with the Afghanistan Government for the project.

Fox Mandal’s Delhi Partners Mr Sumes Dewan and Mr Rajesh Sehgal will lead the team.

Mr Rajesh Sehgal speaking to Bar & Bench said that “It’s always proud to be associated with a prestigious project like Hajigak and working with consortium consisting of leading PSUs and public sector companies looking for aggressive acquisition of natural resources globally. Moreover, this project is of significant importance to lay the new foundation of India-Afghanistan strategic relationship.”

The investment in Afghanistan for the Hajigak Project also includes the building of the nation’s first Steel Plant, an 800MW Power Plant and facilities for Ore Extraction and Processing. The Indian group’s bid also includes an investment of USD 1 billion in rail/road and for building ancillary infrastructure facilities, including a rail line from Hajigak to the Iranian port of Chabahar. The first round of negotiations with the Afghanistan Ministry of Mines has recently been concluded in Kabul.

(Sourced from barandbench.com)