MEDELLIN, Colombia (ICIS)--Bolivia’s central bank has approved a Bolivian bolivianos (Bs) 101.2m ($14.6m) funding package for a polyethylene (PE) tubing plant in the El Alto district of La Paz, government press agency ABI said on Wednesday.
The plant will produce tubing and accessories for the country’s natural gas network, geomembranes for waterproofing applications and agro-films for the construction of greenhouses.
The project is being headed by hydrocarbons industrialisation company EBIH, a subsidiary of state-run oil company YPFB, and is the first of the company’s industrial complexes to reach investment stage.
“It’s small, but very significant, and will strengthen a number of government programmes,” ABI quoted EBIH chief executive Amado Montes as saying.
EBIH, created in 2008 and charged with developing domestic gas-fuelled heavy industry, announced in August last year that it would invest $2.73bn through 2017 to build a number of new industrial complexes.
Projects on the drawing board include a 500,000 tonne/year methanol petrochemical complex; a polyvinyl chloride (PVC) plant; a benzene, toluene and xylene (BTX) plant; and an ethylene oxide (EO) and ethylene glycol (EG) plant.
($1 = Bs6.91)