President Luis Arce has inaugurated Bolivia’s first industrialized iron complex, El Mutún, aimed at producing 200,000 tons of steel annually. The project is expected to halve the country’s iron imports, saving US$ 250 million, while creating over 2,700 jobs. Investments from Russia and Iran are anticipated to further enhance infrastructure development facilitated by the steel produced at the facility.
Bolivia’s President Luis Arce has inaugurated the El Mutún complex, the nation’s inaugural industrial iron facility, strategically positioned to bolster infrastructure projects, especially those supported by Russia and Iran. The State-owned El Mutún facility aims to produce steel for use in a variety of applications, including agricultural equipment, medical facilities, and mining infrastructure, thereby demonstrating its significance for local and international developments.
The complex is projected to generate approximately 200,000 tons of steel annually, which will facilitate a 50% reduction in Bolivia’s iron imports. This shift could save the country around US$ 250 million. Furthermore, plans are underway to establish a second complex to boost production and cater to exports. The project, initially commenced in 2019 and relaunched in 2021, is anticipated to create 700 direct and over 2,000 indirect jobs, having required an investment of US$ 546 million.
President Arce emphasized the project’s historical significance, 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.” He further indicated the intention to expand production.
Jorge Alvarado, President of El Mutún, remarked, “We have managed to make this steel complex a reality in just three and a half years”. He noted that Bolivia imports nearly 400,000 tons of iron yearly, and domestic production would alleviate this issue significantly. He acknowledged the contributions of the current administration towards making this vision a reality.
The El Mutún complex will industrialize iron from the hill termed the “sleeping giant” and is expected to contribute significantly to job creation. Concurrently, investments from Russia and Iran in Bolivia could be positively impacted by the production of steel from this facility.
In addition to the iron complex, Russia’s Uranium One Group has made substantial investments in Bolivia for lithium production, which is crucial for batteries used in electric vehicles. Steel from El Mutún is poised to assist in creating and maintaining infrastructure necessary for lithium extraction processes. Moreover, Rosatom’s nuclear plant under construction in El Alto could benefit from the high-quality steel produced at El Mutún.
The inauguration of the El Mutún industrial iron complex marks a significant milestone for Bolivia, promising both economic benefits and job creation. With a target of producing 200,000 tons of steel annually, the facility aims to reduce import dependency and enhance local infrastructure development. Additionally, the projected partnerships with Russia and Iran underscore the complex’s potential in broader geopolitical and economic contexts.
Original Source: en.mercopress.com
