Category: Business

Information regarding the business sector.

State contracts worth more than $1.11bn to be audited

Contracts between the State and Venezuelan businessman Carlos Gill worth more $1.11 billion will be audited. The audit will cover a radar acquisition contract awarded to Thales Air System ($227 million); a contract for the installation of 22 satellite re-gasification stations ($137 million); and a contract for the provision of services to Mi Teleférico, for more than $718.39 million. The three contracts were directly awarded.

YPFB to boost ethanol sales to keep volumes at 150Mn litres

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) will boost ethanol sales under the current administration and expects to reach the volumes agreed with the previous administration of 150 million litres. The company is investing to increase ethanol consumption in the domestic market, both in logistics and storage, the goal is to reach 12% of the market. After the purchase of the agreed volume is concluded, they will advance in the subscription of a new agreement for a higher amount.

Number of companies in Bolivia increased by 3.7%

There are 329,025 companies operating in Bolivia, 3.7% more than in January 2019, when a total of 317,314 companies were registered. According to Fundempresa, La Paz has the largest share with 30.9%, followed by Santa Cruz with 29.2% and Cochabamba with 17.2%, and the rest is distributed among Tarija (5.1%), Oruro (4.8%), Potosi (4.4%), Chuquisaca (4.1%), Beni (3.1%) and Pando (1.1%).

Fernando Hurtado re-elected president as CAINCO renews board

Fernando Hurtado, who was re-elected president of the Chamber of Industry, Commerce, Services and Tourism of Santa Cruz (CAINCO) for the 2020 – 2021 administration. Orlando Vaca was elected first vice president; Javier Marcelo Camacho, second vice president; Ives de Chazal, Treasurer; and Cristobal Roda Roden, Secretary. Denise Hurtado, Anne Paola McFarlane de Rodríguez and Tania Ponce de León are the new directors of the institution.

YPFB loses $60 Mn per year at LNG plant

State oil company YPFB loses about $60 million per year from the operation of the natural gas liquefaction plant (LNG), according to estimates made by the consultancy Gas Energy Latin America (GELA). To date, the infrastructure operates on average 10% of its installed capacity. It is a 10 million cubic foot (MMpcd) liquefaction plant (MMpcd) and 33 regasification stations in remote populations in Bolivia, costing about $250 million.