Bolivian state sugar company San Buenaventura (EASBA) is looking for markets to export a 130,000 quintals-surplus of sugar and one potential buyer is Belgium. EASBA’s CEO, Ramiro Masanto, said that the company is currently negotiation with Belgian’s businessmen to export the sugar surplus production. He added that the company estimates to be able to export sugar by July or August.
Bolivia announced the execution of China Railway Construction’s warranty deposit for the construction of the Rorrenabaque-Riberalta highway. Public Works Minister, Oscar Coca, said that the project is delayed, which is a “serious problem”. The Chinese corporation has been repeatedly accused of violating labour rights in Bolivia and had to face protests and strikes that have impacted the building of the highway.
Bolivia’s state electricity company (ENDE) began the construction of an electric transmission line in Argentina, announced the president of the firm, Joaquín Rodríguez. The project will allow Bolivia to export up to 120 megawatts of electricity to Argentina and it is expected to be completed by September this year. The line will run through a 110 kilometres corridor from Yaguacua (Bolivia) to Tartagal (Argentina). Bolivia expects to obtain an initial monthly revenue of $2 million which will increase as the demand increase in the Argentine market.
Bolivia should evaluate its current economic model of social inclusion to expand towards science and technology investment, recommend UN expert Pablo Bohoslavsky. He added that the current model has allowed Bolivia to become one of the countries with the highest growth in Latin America but now it is time to bet on investment in science and technology.
Bolivia will have to reimburse at least $130 million for the drilling of the Boyuy X-2 well because the government did not sign an independent contract that allows covering the risk, said oil expert Raúl Velásquez. The exploration in Boyuy X-2, according to the experts has not been successful and more exploration will be needed.
Public investment in Bolivia reached 13% of execution by the end of the first quarter of 2019. The total expended in public projects reached $630 million, 2% less than the originally programmed. The 2019 budget includes a public investment of $5.3 billion, said the Planning Minister, Mariana Prado.
Bolivia will invest at least $2 billion this year in infrastructure projects. The projects will focus in the areas of transport, housing and telecommunications, said Public Works Minister, Oscar Coca.
The fall of the soybean prices to $210 per tonne worry the producers in Bolivia. Soybean production played an important role in the Bolivian economy, according to the president of the Bolivian Export Chamber, Oswaldo Barriga. He added that the oilseed producers expect the help of the Government to reduce the impact.
The project to exploit gas at the Boyuy field in Bolivia has failed. According to the former Hydrocarbons Minister, Alvaro Rios, the 8,000-metre-deep well contains gas, but its exploitation would not be profitable. There will be new perforations and more tests to find new gas reserves in the country. Spanish Repsol now focuses its attention on starting to drill the well Boicobo, which is located in the Caipipendi block where the Boyuy well is also seated. The Spanish company plans to work in another deep well located in the Margarita block in 2020.
Bolivia and Argentina signed an agreement to allow oil exploration and exploitation in the Amazon region. Bolivia’s YPFB and Argentina’s YPF signed will work together the next two months to develop a plan and initiate the technical evaluation to allow the oil activity in the Madre de Dios basin in Bolivia’s Amazonian territory.