The President of Bolivia, Luis Arce Catacora, and head of the Ministry of Mining and Metallurgy (MMM), Ramiro Villavicencio Nino de Guzman, announced on June 18 the reactivation of the construction of Mutun Steel Plant, contracted by Sinosteel MECC on EPC basis, in the ceremony held in Puerto Suarez of Santa Cruz.

The low carbon steel complex consists of beneficiation plant, pellet plant, direct reduction plant, EAF steel making, steel rolling, power plant and auxiliary facilities, adopted state-of-the-art technologies by Sinosteel MECC. 

"Today we are here to reactivate our Mutun steel project because the industrialization of our natural resources is thestrategic path drawn by national government for economic development, and Mutun is one of our main natural resources that we are going to industrialize decisively." said the President.

Arce said that the investment for this project is guaranteed and that compliance with the schedule will be required.This project was delayed for 15 months.

President Arce delivered speed at the ceremony

According to the National Steel Plan, the national steel industry will be developed in three stages:

● First stage, with the production of 194,000 tons of construction bars per year.

● Second stage, which is expected to produce 450,000 tons of construction bars per year.

● Third stage, with a production of 1,000,000 tons per year, of construction bars, flat and special steels

In February of this year, a memorandum of understanding was signed between Sinosteel and Mutun for the resumption of the project.

Currently, preliminary activities for the start of works have already begun and a work schedule is already available in which the completion of construction is expected in mid-2023 and the start of operation at the end of 2023.

This project will also have a social impact through job creation, comprising 4500 jobs in the construction stage and 1800 jobs in the operation stage.