Friday, September 29, 2023

Bolivia receives support from Argentina in the development of chemical factories

To advance its industrial development and promote economic sustainability, Bolivia is rapidly advancing an ambitious chemical project in collaboration with Argentine experts, including Federico Svarc. This approximately $489 million project will be located in Uyuni, a lithium-rich region, and is shaping up to be a critical milestone for the economies of both countries.

The complex will include four plants specialized in the production of key chemicals such as sulfuric acid and sodium hydroxide. It is estimated that these facilities will save Bolivia up to $1.4 billion annually and will also create more than 5,000 jobs in the region.

The University of Buenos Aires (UBA) is providing important advice on this project and contributing its extensive knowledge and experience. Federico Svarc, one of the Argentine experts involved, shared valuable knowledge after his visit to Bolivia. This cooperation is expected to benefit both Bolivia and Argentina economically and technologically.

This new complex will have a significant impact on various industries, including agriculture and medicine. Located in Kulla, Uyuni, the plant will support approximately 1,900 production units and is expected to reduce annual imports by more than $210 million in an initial phase. In addition, the focus will be on minimizing environmental impact and in line with the sustainability goals of both countries.

Cooperation between Argentina and Bolivia will be extended until December 2024, with knowledge exchange and courses part of the plan. The Argentine Cooperation Fund supports this joint effort. Bolivian President Luis Arce considers this project to be a great step forward and regrets that it was not started years ago.

Relations between Argentina and Bolivia have been based on cooperation for years, and both countries are members of the Mercosur trading bloc. While in the past they focused on sectors such as gas and agriculture, they are now entering the chemical sector. Bolivian lithium, a key ingredient in batteries and widely seen as the future of energy storage, is used more efficiently in these facilities than exported in its raw form.

This is a strategic step for Bolivia, which aims to add value to its natural resources and develop into a more sustainable and technologically advanced economy. This collaboration with Argentina has the potential to transform the Bolivian economy and pave the way to a more promising and sustainable future for both countries.

Nation World News Desk
Nation World News Desk
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