Empresa Siderúrgica del Mutún in Bolivia is poised to commence steel production by September, with the completion of all seven plants scheduled by March 2025. President Jorge Alvarado revealed significant progress, noting 85% physical execution and investment allocation of $546 million. The ambitious project aims for 100% operational capacity by February 2025, marking a pivotal moment for Bolivia's steel industry.
Bolivia's steel sector is set for a monumental transformation as Empresa Siderúrgica del Mutún (ESM) gears up to initiate steel production by September, a significant leap towards bolstering the nation's industrial landscape. President Jorge Alvarado unveiled substantial progress in the venture's execution, with completion slated for March 2025, marking a crucial juncture in Bolivia's steel sector development.
Alvarado emphasized that the project witnessed an impressive 85% advancement in physical execution by the first half of the previous month. Of the total investment outlaying $546 million for erecting the seven plants, a staggering 85% has been allocated to equip these facilities, underscoring the commitment to enhancing Bolivia's steel capabilities.
The president highlighted the remarkable strides made in procuring equipment from international sources for the construction. An astounding 100% of the ordered equipment from foreign factories is nearing fulfillment, with 97% already completed and 85% currently on-site undergoing installation.
Alvarado clarified that the imminent completion of the Direct Reduced Iron (DRI) plant by February 2025 signifies a crucial milestone, paving the way for ESM to commence full-scale operations, heralding a new era for Bolivia's steel industry.
The prospective launch of steel production at ESM signifies a pivotal turning point for Bolivia's industrial growth, with the venture poised to significantly augment the country's steel manufacturing capabilities. The strategic investment and progress made in equipment installation reflect a concerted effort to fortify Bolivia's standing in the global steel market.
The upcoming completion of Empresa Siderúrgica del Mutún's infrastructure and equipment installation heralds a transformative phase for Bolivia's steel sector, promising enhanced self-reliance and competitiveness in the global steel landscape.
The imminent operationalization of Empresa Siderúrgica del Mutún (ESM) stands as a testament to Bolivia's commitment to enhancing its steel production capabilities. With significant progress in physical execution and the imminent completion of the seven plants, this venture marks a pivotal moment in Bolivia's quest for self-sufficiency and competitiveness in the global steel market.