The National Electricity Company (ENDE) pledged that the Ivirizu hydro project, which will provide 290 megawatts into the National Interconnected System (SIN), will conclude in 2021. The Ivirizu Hydroelectric Project is being built in the Carrasco National Park of the department of Cochabamba in a surface of 250 hectares with an investment of US$ 549 million.
The president of Bolivia’s National Electricity Company (Ende), Joaquín Rodríguez, reported on Monday that, from the second half of this year, it is expected to start exporting electricity to Argentina, once the transmission line between both countries is established.
The president of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) , Óscar Barriga, indicated the state company plans to invest 1,450 million dollars in 2019. The state-owned company reported today that US$ 450 million dollars have been earmarked for hydrocarbon exploration projects.
Bolivian exports to Venezuela fell dramatically from 2010 to 2018. According to the Bolivia Instituto of Trade (IBCE), Bolivian sales to Venezuela reached in 2010 $US341 million, but by November 2018 they reached only $US1 million, a fall of 99.7%. Bolivia is one of the main political allies of Venezuela, but this friendship did not translate on a healthy trade exchange.
The Andean Development Corporation (CAF) launched a benchmark bond fro €750 million for a period of five years and a coupon of 0.625%. According to the organisation, the launching surpassed expectations.
The business network in Bolivia grew 7% in 2018, reaching a total of 315.868 active companies, according to the Entrepreneurial Development Foundation (Fundempresa). 79% of the firms are unipersonal, 19% are limited companies and 1 are corporations.
The Port Services Administration-Bolivia (ASP-B) and the National Ports Administration (ANP) of Uruguay yesterday signed an agreement to give Bolivia access to the Atlantic through the ports of Nueva Palmira and Montevideo. The agreement allows Bolivia to have presence in both docks, which are connected through the Paraguay-Paraná Waterway, a route in which the country consolidated three ports (Gravetal, Jennefer and Aguirre) to boost foreign trade.
The Minister of Development Planning, Mariana Prado, and Juan Notaro Fraga, president of the Financial Fund for the Development of the River Plate Basin (Fonplata), signed a $ 100 million loan on Monday for the Urban Infrastructure for Generation Program of Employment II. The objective of this program is to promote and develop comprehensive urban infrastructure initiatives for the construction of sustainable, accessible and inclusive cities.
President Evo Morales changed seven of his 20 ministers. He said that the changes are to improve public management of the state but also for “political action”. He added that the main responsibility of the new cabinet of ministers would be to keep the economic growth.
The contract to build a steel factory in Mutun began to be implemented. The Bolivian Government has ordered to proceed with the implementation of the project, which will cost $US 466 million. Chinese Sinosteel will be responsible for the construction of the plant, while the supervision of the project will be in the hands of CISDI, also from China.