Bolivia launched the El Mutún industrialized iron complex, promising to produce 200,000 tons of steel annually and cut iron imports by 50%. This facility is set to generate direct and indirect job opportunities and supports infrastructure projects, particularly those involving Russian and Iranian investments. President Arce and El Mutún’s President Alvarado highlighted the project’s significance for national development and economic independence.
Bolivia has inaugurated its first industrialized iron facility, the El Mutún complex, under President Luis Arce. This project, located in Santa Cruz, is anticipated to support various infrastructure initiatives, especially those backed by Russia and Iran. The facility will produce around 200,000 tons of steel annually, cutting the nation’s iron imports by 50% and saving about $250 million.
The El Mutún complex aims to support the construction of agricultural tools, storage units, telecommunications towers, mining infrastructure, and more. The government plans a second facility to increase production for both domestic consumption and export. This ambitious program, which began in 2019, is projected to directly create 700 jobs and over 2,000 indirect positions while requiring an investment of $546 million for its comprehensive production units.
President Arce described this moment as historic for Bolivia, stating, “Today is a historic moment for all of Bolivia… we deliver one of the most dreamed projects, most longed for by the Bolivian people for decades.” He highlighted the commitment to expand the complex further. El Mutún’s President, Jorge Alvarado, emphasized the significance of reducing imports by producing local steel, avoiding a potential loss of $250 million in foreign currency.
The steel produced at El Mutún holds promise for several international partnerships. Russian investments have significantly contributed, with over $450 million devoted to lithium production, which is essential for batteries. Additionally, steel from El Mutún is expected to be vital in constructing the nuclear plant built by Russia’s Rosatom in Bolivia, signaling strong bilateral ties in infrastructure development.
The inauguration of Bolivia’s El Mutún iron complex is a key step towards reducing dependency on imports and fostering local job creation. This project not only enhances the country’s industrial capabilities but also supports broader infrastructure efforts backed by international partnerships. By producing steel locally, Bolivia can strategically position itself in the global market while fulfilling domestic needs.
Original Source: en.mercopress.com
