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Bolivia and China to sign financial agreement on zinc plant

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La Paz, Feb 6 (Prensa Latina) The president of Bolivia, Luis Arce, confirmed that the Ministries of Mining and Development Planning will sign an agreement with the Government of China to finance the construction of a Zinc Plant in Oruro.

“(…) The agreement will be signed between the Republic of China and the Ministries of Mining and Planning” the dignitary said on Monday in a speech.

The investment will require an expenditure of approximately 350 million dollars and will promote the industrialization of Oruro, which has significant mining potential, according to the president.

Arce explained that the refining plant will provide “added value to our minerals, generating decent employment and contributing to sustainable economic growth in the department of Oruro and in the country.”

The Minister of Mining, Marcelino Quispe, presided last October over the signing of the commitments between the corporation and the Chinese consortiums Enfi-Crig and Chonh Qing Cisdi Engineering Consulting Ltd., respectively.

Quispe and Teodocio Ayllón, manager of the corporation, delivered the documentation to the delegation of the China Eximbank bank in order to access the credit. The protocol was evaluated by the financial institution. The signing of the agreement this Tuesday will seal the loan contract with a 20-year term and a two-percent concessional interest rate.

The construction stage of the Refining Plant will represent 800 temporary and 500 permanent jobs, in addition to two thousand indirect jobs. On a national scale, it will strengthen the mining-metallurgy chain by providing added value to this resource while impacting the training of highly qualified human resources.

From an economic point of view, the project will provide greater tax collection for Bolivia, and royalties that will benefit the Government and the municipalities which produce the metal concentrates.

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