Jindal’s seeking arbitrage against Bolivian government

El Deber reports today:

Arbitration was initiated by Jindal Steel Bolivia (JSB); and it is an antagonistic signal, said Vice President Álvaro García Linera; who asserted that the Government will assume a legal defense. In turn, the Manager of JSB, Jaime Valencia, expected that the measure does not cause conflict with the Bolivian State.

García Linera noted that the extent of the arbitration is wrong and described it as ‘un-friendly’.

Valencia reiterated that the arbitration process is underway and pointed out that it is a right recognized by the Government.

The JSB considered illegal the claimed two ballots of guarantee ($18 million) and they want to recover those funds.

http://www.eldeber.com.bo/2011/2011-12-22/vernotaeconomia.php?id=111221222910

So, in between litigations, lack of a reliable natural gas supply and access to/from the Mutun mine to the shipping port; nothing is happening… or will likely to happen in the next five years or so…

So much for autonomy and competitiveness, Santa Cruz department needs to solve this issue ASAP!

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