March 30, 2016 – Sinosteel MECC signed a US$422million EPC contract to build the 150,000t/y steel plant with Bolivia’s state-run El Mutún Steel Company, witnessed by Bolivian President Evo Morales and Chinese Ambassador Yuanshan Wu.

Located in Puerto Suarez, the project will include a 650,000t/y processing plant, a 400,000t/y palletizing plant, a 250,000t/y reduction plant, a 156,000t/y steel making plant, a 150,000t/y bar/wire rolling plant and a 60MW gas-fired power plant as well as the auxiliary facilities, marks the most integrated overseas steel plant project assumed by Chinese companies so far. As general contractor, SINOSTEEL MECC will develop the entire plant’s geological survey, processing test, design, supply, construction, trial run, training, and 1-year operation assistance. The project, which will take 30 months to complete, will begin after the approval of a line of credit.

The project planned to produce high quality construction steel which are currently imported by using abundant iron ore and natural gas resources, which is prioritized in Bolivia’s National Development Plan. A second and third phase are planned other than this project. The objective is to eventually achieve an output of more than 400,000 tons rolled steel. Bolivia has attempted in the past years several times to set up the project, involving global famous engineering companies, and Sinosteel was chosen with its experiences and sound reputation in the industry.

The project, marks another significant breakthrough in South American project contracting market of Sinosteel MECC, has generated great effect locally and also will positively promote its further development there.

President Morales and Ambassador Yuanshan Wu

witnessing contract signing 

contract signed by both parties 

Chairman Pengcheng Lu of Sinosteel MECC

photographed together with President Morales