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Bolivia announces investment of 40 million dollars for second biodiesel plant

Bolivian President Luis Arce announced on Monday the construction of a second Biodiesel II and derivatives plant in the Bolivian city of El Alto, adjacent to the town of La Paz (west), with an investment of 40 million dollars.

“This installation is part of the government’s plan to consolidate the country’s industrialization and gradually reduce diesel imports,” said the Bolivian president at the public ceremony to lay the foundation stone for the construction of the modern industry.

In the Santa Cruz (east) department, the Biodiesel I plant is being implemented, and the production of the first ecological barrel is planned for this year.

He announced that this project, called “Héroes de Senkata” in El Alto, will be developed through the state oil company YPFB, the operational arm of the nationalization of hydrocarbons.

The president recognized the city of El Alto as the driving force behind the “October 2003 agenda”, which included the nationalization of hydrocarbons, the constituent assembly, and other pillars that marked the governments of Evo Morales (2006-2019) and Luis Arce (2020-2025).

In turn, the Minister of Hydrocarbons and Energy, Franklin Molina Ortiz, said that the launch of this project is in recognition of those who gave their lives in defense of natural resources, democracy, and the nationalist vision of this population.

This project aims to materialize the substitution of imports and advance in an authentic energy transition, reducing the use of fossil fuels and replacing them with environmentally friendly energies.

According to information provided by the Ministry of Hydrocarbons, the plant will have the capacity to produce 1,500 barrels of Biodiesel per day, which will reduce diesel imports, and the subsidy on this fuel and avoid the outflow of foreign currency.

It is also expected to generate 500 direct jobs and 864 indirect jobs. YPFB Refinación will carry out the work, and operations are expected to start by the end of 2024.

Biodiesel is a fuel that uses mainly vegetable oils as raw material. It is also an environmentally friendly green fuel due to its low carbon dioxide (Co2) emissions.

Source: riotimesonline