Bolivian state-run company, Empresa Siderurgica del Mutun (ESM), is using 35,000 mt of metals to build its steel and iron ore complex in the city of Puerto Suare, in the province of Santa Cruz, the nation’s ministry of mining said.
The company received a second shipment of 3,500 mt of metal structures to advance its project, which is expected to generate $172 million in yearly revenues, as anticipated by SteelOrbis. ESM also expects to get a reactor for steelmaking processes.
Without disclosing further details, the CEO of ESM, Jorge Alvarado, said the assembly of various equipment is currently 75 percent complete. The construction of the entire complex is now 55 percent complete. Other undisclosed equipment is also expected to arrive from China.
The complex will have seven facilities, including concentration, pelletizing, direct reduction, steelworks, rolling mill, a central power plant, and supporting areas.
Construction works were first expected to begin in 2017 but were then postponed for June 2018. Sinosteel commenced preliminary works in the area in July 2018. Earlier this year, the Bolivian government said construction works at the ESM complex could be completed by late 2022.