An Indian company, Sandeep Garg and Company (SGNC), is to set up an integrated steelworks in Tienfala, 30 km West of Bamako, in 18 months.
The steelworks will be sited in Tienfala where SGNC mines a huge iron deposit, sources said on Monday in the Malian capital, official sources said.
The steelworks will have a capacity of 300,000 tonnes per year and will be equipped with a thermal power station of 70MW.
The project will need an investment of US$300 million.
In addition to the fact that it will strengthen the country’s energy production capacity, SGNC will create more than 3,000 direct and indirect jobs.
The Malian ministry of Mines says that the intiative was taken within the framework of the country’s national policy and its diversification of the mining sector whose success will depnd mostly on the capacity to transform in the place