Bolivia has inaugurated a $546 million steel plant in Puerto Suarez to reduce metal imports, financed by a loan from China’s Export-Import Bank, enhancing China’s economic influence in South America.
On Monday, Bolivia inaugurated a new steel plant aimed at decreasing its dependence on metal imports. This facility, known as the Mutun megaproject, is strategically located in Puerto Suarez, close to the Brazilian border. With a substantial investment totaling $546 million, the plant was primarily financed through a loan from the Export-Import Bank of China, highlighting China’s expanding influence in South America.
In conclusion, the inauguration of the Mutun steel plant represents a significant step for Bolivia in its efforts to enhance self-sufficiency in metal production. The collaboration with China underscores a strategic partnership that promises to bolster Bolivia’s economy while reducing importation costs.
Original Source: www.caledonianrecord.com
