Bolivia has inaugurated its first industrialized iron facility, the El Mutún complex, aiming to produce 200,000 tons of steel annually. This venture seeks to halve iron imports and save $250 million. The project will create thousands of jobs and support infrastructure projects backed by international investments, particularly from Russia and Iran.
Bolivian President Luis Arce inaugurated the El Mutún complex, marking the launch of the nation’s first industrialized iron facility. This complex, situated in Puerto Suárez, Santa Cruz, is anticipated to support significant infrastructure projects, particularly those funded by Russia and Iran. The facility’s steel products are poised for diverse applications, including agricultural equipment and medical facilities, emphasizing the project’s potential impact on Bolivia’s development.
The El Mutún complex aims to produce 200,000 tons of steel annually, which will reduce Bolivia’s iron imports by half and save the country approximately $250 million. Additionally, there are plans for a second complex aimed at fulfilling domestic needs and facilitating exports. This initiative is expected to create around 700 direct jobs and over 2,000 indirect employment opportunities, highlighting its importance to the local economy.
President Arce expressed the project’s significance, stating, “Today is a historic moment for all of Bolivia… we deliver one of the most dreamed projects.” He assured that the second phase of the project, which would double production, is in the pipeline. Jorge Alvarado, the President of El Mutún, noted the rapid realization of the complex, achieving this in just three and a half years despite previous delays.
El Mutún is seen as pivotal for establishing a self-sustaining steel industry in Bolivia. With significant investments from Russian and Iranian firms already established, the steel output will support projects linked to lithium extraction, an essential component for electric vehicles. Additionally, infrastructure for a nuclear plant being constructed by Rosatom in El Alto will also benefit from the steel produced at this complex.
The El Mutún complex is a strategic venture into resource industrialization, anchoring Bolivia’s economy in a rapidly evolving global market. This project not only promises to boost local industries but aligns the country closer to significant international partnerships, particularly with Russia and Iran, creating a robust economic framework that enhances various sectors in Bolivia.
The inauguration of the El Mutún iron complex marks a significant step in Bolivia’s industrialization efforts. By producing steel domestically and reducing imports, the facility is set to bolster the economy and create thousands of jobs. Furthermore, potential international partnerships with Russia and Iran present opportunities for further infrastructure development, significantly impacting Bolivia’s growth trajectory.
Original Source: en.mercopress.com
