Bolivia, steel complex in Santa Cruz inaugurated

teleSUR English

*The complex will produce 200,000 tons of steel per year *The project was financed with state resources and a loan from the government of China *Mutun iron ore deposits is one of the largest reserves of this mineral in the world

Transcript

00:00In Bolivia, the government started up a steel plant that will produce 200,000 tons of iron-derived

00:05construction materials per year and require an investment of over $500 million.

00:11Correspondent Fredy Morales with the details.

00:16The plant is located in Puerto Suarez, near the Brazilian border, and will use iron from

00:21El Cerro Mutin, one of the world's iron reserves.

00:29The truth is that it is a great satisfaction for me, today as municipal mayor of Puerto

00:33Suarez, to witness and represent those generations that have fought tirelessly for more than

00:4080 years to see this dream come true.

00:49The steel complex will produce 200,000 tons of steel per year in a first phase, which

00:54means half of these materials that the country has been importing until now.

01:04Now that we are going to put this complex into operation and we are going to start producing

01:08steel, we will generate more than 700 direct jobs and more than 2,000 indirect jobs.

01:16This is what the steel complex represents in social terms.

01:24Correspondent Luis Arce recalled that the financing of the complex used state resources

01:28and a loan from the government of China.

01:35This is an investment of $546 million where there are three actors involved to finance.

01:41First, the financing of the Chinese government, whom we thank infinitely, as well as the brother

01:46ambassador of that country, through him.

01:57A big hug to brother Xi Jinping, second the resources of the central bank with a credit,

02:02and finally, to complete all this, the general treasury of the nation that is being invested,

02:07along with resources that are here to invest and fulfill the dream of so many Bolivians.

02:19The complex will produce rebar and wire rod in its first phase.

02:27This is a clear demonstration that the Bolivian state has to be and is the fundamental actor

02:31to advance towards the industrialization of our country.

02:35Industrialization is not just a story.

02:37It is a reality.

02:44We are showing the whole country that it is possible to industrialize the country, that

02:48this depends on the political decision of a government determined to build a solid and

02:53diversified economy in our country.

03:01The mutant iron ore deposit is one of the largest reserves of this mineral, with 40,000

03:07million tons.

03:08Its production of 200,000 tons per year means that the state will save some $250 million

03:13in foreign currency that it used to spend on this import.

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