Indian firm Sesa Goa and Elenilto Minerals & Mining are planning to invest more than $2.6bn in Liberian iron ore firm Western Cluster.

Elenilto Minerals & Mining will invest $77m while Sesa Goa will acquire a 51% interest in Western Cluster for $90m.

The Liberian Government will receive $41m from the partnership, following the approval of the mineral development agreement.

Western Cluster is planning to develop a project that will include iron-ore deposits and transport infrastructure to export the material, reports Bloomberg.