Owing to absence of assured gas supply,Jindal Steel and Power (JSPL) cancelled its$2.1-billion Bolivian project. 
 
 In 2007, JSPL and the Bolivian government had signed a contract whereby the company was to invest $2.1 billion in developing half of the 40-billion-tonne iron ore reserves in El Mutun. 
 
 JSPL and the Bolivian government are locked-in a court battle in the International Court of Justice over encashing of the $18 million corporate guarantee furnished by the company. The project for the last two years has been engulfed in controversy. 
 
  According to the pact, JSPL was supposed to invest $300 million for first five years and $200 million for the next three years.
 
 However, owing to the economic uncertainties surrounding the global investment cycle at the time, JSPL asked for renegotiation of the investment schedule which was shot down by the government of President Morales.