The project located in Santa Cruz and reactivated by Luis Arce in June 2021 will be essential for the country’s economic development. It will consist of seven plants and is expected to operate at 100% in March 2025, when Bolivia’s bicentennial is celebrated.
In search of an escape from dependence on foreign currencies, the Bolivian president Luis Arce During his government, he developed various strategies to open the country to international markets.
In 2021, he decided to resume a fundamental work for Bolivian development such as the Giant of Mutunwhich amounts to 40 billion tons of iron ore and will allow it to be transformed into high-quality steel. This will be used for the construction of civil works and also for by-products such as screws and nails.
This transformation of the raw material will be an unprecedented event in the country’s history, and its production will be competitive with products imported from other countries. Arce’s decision was so fundamental that, once operational, the Mutún Giant will allow Bolivia to enter the era of steelmaking and replace 50% of imports. In addition, it will generate more than US$ 175 million in income per year and avoid the loss of another 200 million.
Another good news is that Unlike the vast majority of coal-fired steel plants in Latin America, which are sources of significant pollution, this complex will run on gas and pollution will be much lower.thus improving environmental conditions and reducing greenhouse gas emissions.
The Mutún Giant covers 42 hectares and has seven floors. These are: Concentration, Palletizing, Direct Reduction (DRI), Steelmaking, Rolling, Power Plant, and Auxiliaries. The total investment of US$ 546 million with 100% guaranteed financing and according to stipulations will generate more than 2,700 sources of direct (700) and indirect (2,000) jobs.
Thus, while he is making an increasingly strong presence in MERCOSUR, and awaits the BRICS Summit in Kazan next October to expand international markets, President Luis Arce is giving another example of how he wants to make the most of Bolivia’s natural resources.
Source: Ambito
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