Jindal affiliate finds natural gas in Bolivia

I / La Paz(bolivia) May 12, 2009, 9:07 IST

A subsidiary of India's Jindal Power & Steel Ltd says it has found new natural gas reserves in a well in eastern Bolivia.      

GTLI manager Luis Carlos Kinn tells The Associated Press that the find's estimated production will be 3.5 million cubic feet of natural gas per day.      

Kinn says it is a "moderate reserve" that will start production in the next 40 days.      

Kinn said yesterday that the company invested $11 million in the exploration of the field in eastern Bolivia.      

Bolivia's natural gas deposits are the second largest in South America after Venezuela.