Bolivia set to start up China-funded steel plant
LA PAZ, Feb 13 (Reuters) - A China-funded steel plant in Bolivia first planned half a century ago is set to start production this month with enough output to cover half the country's needs, according to Bolivian officials.
The $546-million Mutun plant was largely funded by the Export-Import Bank of China, and will be operated by China's Sinosteel Engineering and Technology for its first year.
Following an official inauguration on February 24, the plant in eastern Bolivia near the Brazilian border is expected to initially produce 200,000 metric tons of steel a year, principally rebar and wire mesh, worth $260 million.
Bolivia typically imports steel from Peru and Brazil.
"We are entering an era of industrialization," Mining Minister Alejandro Santos Laura told a press conference on Wednesday afternoon.
The project was delayed numerous times since it was first proposed about 50 years ago, including by a series of disputes between the government and the company initially contracted to build the plant, India's Jindal Steel & Power Ltd (JNSP.NS), opens new tab.
President Luis Arce's government has been battling to revive the Andean country's economy amid a slump in gas exports that has drained the central bank's foreign currency reserves and put pressure on the local currency.
The Mutun plant will process 66,000 tons of raw materials a month using iron ore from Cerro Mutun, a deposit that Bolivian officials say holds one of the world's biggest iron ore reserves, with 40 billion tons.
Bolivian officials will look at the possibility of constructing a second plant once domestic needs are met, Santos Laura said. He did not provide a timeline.
"When we pass 100% ... we are going to build another plant, much better than the current one," Santos Laura said. "We will have no choice but to export the surplus abroad."
The plant is expected to initially create 700 jobs and later reach 1,000, he noted.
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BBC News
an hour ago
- BBC News
Frederick Forsyth: Life as a thriller writer, fighter pilot, journalist and spy
Frederick Forsyth, who has died at the age of 86, wrote meticulously researched thrillers which sold in their millions.A former fighter pilot, journalist and spy, many of his books were based on his own wove intricate technical details into his stories, without detracting from the lightning pace of his research often embarrassed the authorities, who were forced to admit that some of the shady tactics he revealed were used in real-life espionage. Frederick McCarthy Forsyth was born on 25 August 1938 in Ashford, Kent. The only child of a furrier, he dealt with loneliness by immersing himself in adventure his favourites were the works John Buchan and H Rider Haggard, but Forsyth adored Ernest Hemingway's book on bullfighters, Death in the was so captivated that - at the age of 17 - he went to Spain and started practising with a cape. He never actually fought a bull. Instead, he spent five months at the University of Granada before returning to do his national service with the spent years dreaming of becoming a pilot, Forsyth lied about his age so he could fly de Havilland Vampire 1958, he joined the Eastern Daily Press as a local journalist. Three years later, he moved to the Reuters news Tonbridge School, Forsyth had excelled in foreign languages but little else. Fluent in French, German, Spanish, and Russian, he was a born foreign correspondent. Posted to Paris, he covered a number of stories relating to assassination attempts on the life of France's President Charles de Gaulle, by members of the Organisation de l'Armee Secrete (OAS).The group of ex-army personnel were angered at de Gaulle's decision to give independence to Algeria after many of their comrades had died fighting Algerian called the OAS "white colonialists and neo-fascists".And he decided that, if they really wanted to kill de Gaulle, they would have to hire a professional assassin. Forsyth joined the BBC in 1965. Two years later, he was sent to Nigeria to cover the civil war that followed the secession of the south-eastern region of the fighting dragged on far longer than had been expected, Forsyth asked permission to stay and cover it. According to his autobiography, the BBC told him "it is not our policy to cover this war"."I smelt news management," he said. "I don't like news management." He quit his job and continued to cover the war as a freelance reporter for the next two chronicled his experiences in The Biafra Story, which was published in 1969. He later claimed that, while in Nigeria, he began working for MI6, a relationship that continued for two decades. He also become friendly with a number of mercenaries, who taught him how to get a false passport, obtain a gun and break an enemy's these tricks of the trade would be incorporated in a tale of an attempted assassination of President de Gaulle, The Day of the Jackal, which he pounded out in his bedsit on an old typewriter in just 35 spent months trying to get it published but faced a string of rejections. "For starters, de Gaulle was still alive," he said, "so readers already knew a fictional assassination plot set in 1963 couldn't succeed."Eventually, a publisher risked a short print run and sales of the book, described once as "an assassin's manual", took off, first in the UK and then in the US. The Day of the Jackal showcased what would become the traditional hallmarks of a Forsyth thriller. It wove together fact and fiction, often using the names of real individuals and Jackal's forgery of a British passport, using the name of a dead child taken from a churchyard, was perfectly feasible in the days before electronic databases and tale was made into an award-winning film in 1973, staring Edward Fox as the anonymous gunman. Forsyth followed up his success with The Odessa File, the story of a German reporter attempting to track down Eduard Roschmann - a notorious Nazi nicknamed the "Butcher of Riga" - who is protected by a secret society of former SS men known as part of his research, Forsyth travelled to Hamburg posing as a South African arms dealer. "I managed to penetrate their world and was feeling rather proud of myself," he later said."What I didn't know was that the (contact) had passed a bookshop shortly after our meeting. And there, in the window, was The Day of the Jackal, with a great big picture of me on the back cover."The film of the book led to the identification of the real "Butcher of Riga", who was living in Argentina - after one of his neighbours went to see it at the local cinema. He was arrested by the Argentinian authorities, but skipped bail and fled to book also mentioned a hoard of Nazi gold that was exported to Switzerland in 1944. Twenty-five years after publication, the Jewish World Congress discovered this passage and, eventually, located gold valued at £1bn. 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In 1984, he returned to the novel with The Fourth Protocol: a complex tale of a Soviet plot to influence the British general election and install a hard-left Labour book so impressed Sir Michael Caine that he persuaded Forsyth to allow a film version, in which the veteran actor starred alongside Pierce the late 1980s, Forsyth separated from his first wife, the former model Carole Cunningham and was photographed alongside the actress Faye Negotiator, published in 1991, continued the successful run while The Deceiver, the tale of a maverick but brilliant MI6 agent, was made into a BBC two more thrillers, The Fist of God and Icon, Forsyth took an abrupt detour with The Phantom of Manhattan: a sequel to the Phantom of the Opera, which had been a successful was not a great success but, in 2010, Andrew Lloyd Webber took elements of it for his musical follow-up to Phantom, Love Never Dies. A second set of short stories, The Veteran, also had mixed reviews but Forsyth bounced back in his usual style with Avenger, a 2003 political thriller and, three years later, The Afghan, which had links with the earlier Fist of now, Forsyth had established a reputation as a broadcaster and political pundit. He was a frequent guest on the BBC's topical debate programme Question Time, as someone who held views on the right of the political spectrum.A committed Eurosceptic, he once derailed former Prime Minister Ted Heath on the programme - after proving that he had indeed, despite his denials, once signed a document agreeing to transfer UK gold reserves to Frankfurt. On turning 70, the pace of his writing began to slow. 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Ironically, his 18th novel, The Fox - published in 2018 - was a spy thriller about a gifted computer announced it was to be his final book, but he later came out of self-imposed retirement after the death of his second wife, Sandy, in said he was writing another adventure, and even suggested a raffle might give someone the chance to name a character after sold the film rights for £20,000 in the 1970s, Forsyth received no payment for Eddie Redmayne's version of The Day of the Jackal when it was re-imagined for television last year on into his 80s, he had long since agreed to stop research trips to far-flung parts of the world - when a trip to Guinea-Bissau left him with an infection that nearly cost him a leg."It is a bit drug-like, journalism," he admitted. "I don't think that instinct ever dies."It was an instinct that made his life as full and exciting as his thrillers.
The Independent
an hour ago
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Reuters
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US ocean container imports tumble in May as China tariffs take hold
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