Bolivia inaugurated a new steel plant in Puerto Suarez to reduce metal imports, funded largely by a $546 million loan from China. This project, known as the Mutun megaproject, marks an important step for Bolivia’s economy and highlights China’s influence in the region.
Bolivia has launched a new steel plant, aimed at decreasing its dependence on imported metals, which was formally inaugurated on Monday. This significant project, known as the Mutun megaproject, is located in Puerto Suarez, close to Bolivia’s border with Brazil. The plant was developed at a total cost of $546 million, predominantly financed through a loan from the Export-Import Bank of China, highlighting China’s growing economic influence in South America.
The inauguration of the Mutun steel plant reflects Bolivia’s strategy to bolster its local industry by reducing import reliance. Financed mainly through a Chinese loan, this project underscores China’s expanding role in Latin American economies.
Original Source: www.brenhambanner.com
