Bolivia’s state-run Empresa Siderúrgica Mutún (ESM) is currently analyzing two proposals to build a non-flat finished steel plant at its Mutún iron ore and steel complex, the country’s government said this week.
According to the nation’s ministry of mining and metals, Bolivia is yet to decide which contractor company competing in a public tender will design, build and help start-up the steel mill.
The ministry said Sinosteel Equipment & Engineering Co and Henan Complant presented different proposals for the project. Sinosteel proposed a $388 million investment for the non-flat finished steel mill, while Henan said the development of the project would cost about $442.1 million, including a gas pipeline stretch as well as a steel pipe.
A commission will now evaluate the two proposals until October 29, when the company, which will develop the project, will be known.
The nation’s ministry of mining, Cesar Navarro, said a contract with the elected company is likely to be signed on November 10 in Puerto Suarez.
The selected company will manage the financing of 85 percent of the project, while the Bolivian government will be responsible for the other 15 percent financing part of the initiative.