The Empresa Nacional de Electricidad (ENDE Corporación) is experiencing problems of illiquidity and arrears due to the reduction of electricity tariffs for three months in 2020, in addition to the prohibition of cuts to consumers. They attribute this to a 13 per cent decrease in profits for its affiliates and subsidiaries.
Category: Business
Information regarding the business sector.
YPFB announces $250 mn investment in renewable diesel plant
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) announced starting a pioneering renewable diesel production project in Bolivia with a new plant located at the Guillermo Elder Bell refinery in Santa Cruz, which will require an investment of $250 million. Bolivia will produce renewable diesel from vegetable oils and the reuse of waste oils and animal fats.
Reactivation of urea plant will take one year and cost $20 mn
Almost three months after the national government's announcement to carry out a diagnosis of the situation of the urea and ammonia plant to put it into operation, no progress made. The plant needs to repair the turbocompressor, ventilation towers, boilers, water intake and start-up generators. The work is estimated to take at least a year and cost a minimum of $20 million.
BoA revenues fall 54%
The pandemic seriously affected the state-owned airline Boliviana de Aviación (BoA). In 2020, its revenues fell by 54 per cent compared to 2019. The state intends to reactivate the airline with a loan.
New business registration fell 19% in 2020
Due to the Covid-19 pandemic, new businesses' registration fell by 19 per cent in 2020 compared to 2019. Economists agree that companies require support from the government because the reduction impacts the country's unemployment rate.
San Cristobal mining company’s sales fall 41% in one year
In one year, sales at San Cristóbal, the country's largest mine, fell by 41% due to the decline in mineral prices and contraction in demand due to the pandemic, according to a balance sheet of the company's profit and loss statement comparing September 2019 to the same period in 2020.
Entel profits fell $61.7 mn in 2020
The National Telecommunications Company (Entel) reduced its profits by more than 430 million bolivianos ($61.7m) compared to 2018. The company's accountability report did not show the numbers of 2019 when the decline was already evident.
Mi Teleférico’s income last year fell by 55%
The State Cable Car Company Mi Teleférico's service revenues fell last year by 55%, and the number of passengers transported by 58%, due to the quarantine dictated by the COVID 19 pandemic.
Government reports ethanol production fell by 32% in 2020, but YPFB defaulted on purchase target
The production of anhydrous alcohol, the additive is mixed with superior gasoline, fell by 32% in 2020, a year marked by the stoppage of activities resulting from the pandemic. However, the sugar cane sector, which supplies the raw material, points out that the production of anhydrous alcohol did not fall, but rather that there was a failure by Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) to withdraw the agreed volumes.
Fancesa to supply +$72mn worth of cement for the Nueva Santa Cruz project
Fábrica Nacional de Cemento S.A. (Fancesa) will supply more than $72 million worth of cement for the construction of the emblematic Nueva Santa Cruz Ciudad Inteligente project, after signing a contract with Grupo Empresarial Lafuente this Thursday as part of a strategic alliance.
