Bolivia inaugurated the El Mutún complex, its first industrialized iron facility, to enhance infrastructure and reduce iron imports by 50%. The complex is expected to produce 200,000 tons of steel annually, with plans for further expansion. Significant foreign investments from Russia and Iran are anticipated to support various infrastructure projects using the steel produced.
The inauguration of the El Mutún complex marks a significant milestone for Bolivia as President Luis Arce officially opens the nation’s first industrialized iron facility. This development aims to enhance infrastructure across various sectors, particularly those backed by investments from Russia and Iran. The facility, located in Puerto Suárez, Santa Cruz, holds the potential to produce steel used in agriculture, telecommunications, and medical facilities, highlighting its broad impact on local and foreign projects.
With an expected annual output of 200,000 tons of steel, the complex will drastically reduce Bolivia’s iron imports by 50%, saving the country approximately US$250 million. The government plans to construct a second facility to accommodate domestic needs and expand exports. The El Mutún complex, which began construction in 2019 and resumed in 2021, is designed to create 700 direct jobs and over 2,000 indirect opportunities, supported by an investment of US$546 million.
President Arce emphasized the significance of this project, stating, “Today is a historic moment for all of Bolivia. There were so many years of backwardness and delay. And for all Bolivians, in the year of the Bicentennial, we deliver one of the most dreamed projects, most longed for by the Bolivian people for decades.” Additionally, he confirmed plans for a second phase of production expansion at the complex.
Jorge Alvarado, President of El Mutún, noted, “We have managed to make this steel complex a reality in just three and a half years.” He highlighted the facility’s role in reducing import dependency, stating that it would alleviate the outflow of foreign currency by US$250 million. Furthermore, Alvarado acknowledged the support of President Arce and Minister of Mining Alejandro Santos in bringing the project to fruition.
The El Mutún complex will utilize iron from the renowned “sleeping giant” hill to facilitate economic growth, with projections indicating around 700 direct jobs and over 2,000 indirect jobs to be generated. Significant foreign investments from Russia and Iran are poised to further leverage the steel produced at El Mutún, fostering collaboration on various infrastructure projects.
Russia’s Uranium One Group has contributed US$450 million toward lithium production, while the El Mutún steel will serve critical needs in constructing infrastructure related to lithium extraction and processing. Moreover, the Russian agency Rosatom is developing a nuclear plant in El Alto, Bolivia, with a US$300 million investment, thereby assuring infrastructural integrity by utilizing steel from El Mutún for its construction and maintenance requirements.
In summary, the El Mutún complex represents a transformative step for Bolivia’s industrial sector, enhancing job creation and economic independence while nurturing international partnerships for further infrastructural initiatives. As the nation embarks on this ambitious journey towards industrialization, the El Mutún facility stands at the forefront of Bolivia’s developmental strategy, marking a new chapter in its economic history.
The El Mutún complex is poised to revolutionize Bolivia’s industrial landscape by reducing reliance on iron imports, creating thousands of jobs, and fostering international collaborations. With significant investments from Russia and Iran, the facility not only addresses domestic needs but also positions Bolivia as a key player in the regional steel market. As the government plans further expansions, the long-term economic benefits of this project are anticipated to be substantial.
Original Source: en.mercopress.com
