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Economy & Business - March 2025

BOLIVIA: First steel plant begins production

In February Bolivia’s President Luis Arce inaugurated the country’s first steel production plant, the Complejo Siderúrgico del Mutún, located in Puerto Suárez in the eastern department of Santa Cruz. The hope is that the domestic production of steel will help to reduce imports by up to 50%, saving the country over US$200m annually. So far, US$546m has been invested in the project, which has been described by the government as one of the country’s most ambitious industrialisation initiatives, and one that has been fifty years in the making. A large proportion of the investment was provided by the Export-Import Bank of China, and the plant will be operated by Sinosteel Engineering and Technology for the first year.

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