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.
The excess of rainfall and the high concentration of magnesium and potassium in brine are two of the challenges for efficient exploitation of lithium in Bolivia, according to the Earth Observatory, an institute dependent on the National Administration of the Space and Aeronautics (NASA). According to the institute, these two factors added costs to the exploitation of lithium and make it less competitive to the lithium produced in Argentina and Chile.
The absence of labour policy and clear rules for private investments are the main reasons stopping the arrival of fresh capital for sectors that demand skilled labour. The Millennium Foundation noted that for example in the mining sector, Bolivia has become less and less competitive. The think tank said that Bolivia is in position 74 (of 83) in the Attracting Investment Index.