Bolivia Unveils Historic El Mutún Iron Complex to Boost Infrastructure

Bolivia has inaugurated the El Mutún complex, its first industrialized iron facility, which is expected to produce 200,000 tons of steel annually, reducing iron imports by 50% and saving $250 million. The project aims to create 700 direct and over 2,000 indirect jobs. It also reflects significant foreign investments, particularly from Russia and Iran, supporting infrastructure development in various sectors.

The inauguration of the El Mutún complex marks Bolivia’s first industrialized iron facility, as announced by President Luis Arce. This initiative is anticipated to play a crucial role in enhancing infrastructure, especially projects funded by countries such as Russia and Iran. With an annual production capacity of 200,000 tons, the complex aims to cut the nation’s iron imports by half, potentially saving approximately $250 million. Furthermore, plans are underway for a second facility to cater to the domestic market and facilitate exports.

Invested at $546 million, the El Mutún complex is expected to create around 700 direct jobs and over 2,000 indirect jobs for the community. The government began the project in 2019, which faced interruptions during the prior administration but was revitalized under President Arce’s leadership in 2021. “Today is a historic moment for all of Bolivia… we deliver one of the most dreamed projects, longed for by the Bolivian people for decades,” Arce stated during the inauguration.

Additionally, Jorge Alvarado, President of El Mutún, emphasized the project’s significance, highlighting that it would significantly reduce dependency on foreign steel imports. He noted that if the complex operates as intended, it would prevent an approximate foreign currency outflow of $250 million as the nation currently imports around 400,000 tons per year of steel. This project reflects a commitment to industrialization and economic self-sufficiency.

The strategic importance of this facility extends beyond national infrastructure. Steel produced at El Mutún is poised to support multiple projects sponsored by Russia, including lithium extraction facilities and a nuclear plant in El Alto, which requires robust materials for construction. Moreover, investments from Russia’s Uranium One Group and Rosatom signify strong bilateral ties, advancing Bolivia’s interests in critical sectors like gas and nuclear energy.

In summary, the El Mutún complex represents a significant advancement in Bolivia’s industrial sector, promising substantial economic benefits through job creation and reduced dependency on imported steel. With continued investment from international partners, this project has the potential to bolster Bolivia’s infrastructure and contribute to its long-term economic development. President Arce’s commitment to the Bolivian people’s aspirations for industrialization is evident in this landmark initiative.

Original Source: en.mercopress.com