In a recent update, Jorge Alvarado Rivas, the president of Empresa Siderurgica de Mutun (ESM) in Bolivia, revealed significant strides in the construction of the El Mutun iron ore and steel complex. Rivas announced that the project has reached an impressive 85 percent completion stage, showcasing notable progress since the 78 percent milestone recorded in early October.
The accelerated pace of advancement is primarily attributed to the efficient construction and installation of equipment, with civil construction and metallic structures comprising a mere 10 percent of the overall project. Rivas emphasized that a substantial portion of the $546 million investment, amounting to 85 percent, has been allocated to the construction of equipment sourced from eight different countries.
Providing further details on the project's status, Rivas disclosed that 97 percent of the equipment construction is now finalized, and a commendable 83 percent of these components have already been transported to the project site in Puerto Suarez. With operational commencement steadfastly planned for September 2024, the project remains on track.
Once fully operational, the El Mutun steel complex is poised to produce an impressive 200,000 metric tons of steel products annually. This capacity is anticipated to significantly offset Bolivia's reliance on steel imports, replacing up to half of the country's current inbound steel.
Highlighting another noteworthy development in the project timeline, Rivas announced that earlier in the month, a pivotal milestone was achieved with the confirmation of the natural gas supply by Yacimientos Petroliferos Fiscales Bolivianos (YPFB), the country's oil company. This development underlines the project's strategic progress and underscores its commitment to achieving self-sufficiency and reducing dependency on external sources.
Vietnam Steel by Hoa Sen Group