Bolivia Towards Industrialization: Vice President

La Paz, Mar 11 (Prensa Latina) Bolivia is ready to begin an era of important investments that will increase industrialization for the benefit of its citizens, said the nation”s Vice President, Alvaro Garcia.

  Garcia, acting president, as Evo Morales is in Chile, said that investments are planned this year for a total of $3. 800.000, only in the energy sector.

The Nationâ�Ös General Budget envisages the heavy outlays in the hydrocarbon and electricity sectors, especially related to the installation of hydroelectric plants and the coverage expansion.

Specifically, he referred to the construction of power plants, as a new thermoelectric plant in Tarija and a hydroelectric in La Paz.

This will be an era of great investments, whose results will be seen in four to five years, with sustainable development that will benefit all Bolivians, Garcia said.

In addition, the Government announced that it will boost the company Bolivian Fiscal Oilfields (YPFB) with a billion investment, in order to promote hydrocarbons industrialization.

Bolivia has enough resources to face this challenge, that will represent an economic growth of six to eight per cent annually. It is possible, he said.

Finally, he said that with new investments Bolivia will be able in the near future to satisfy the current demand for a thousand megawatts a year, and export energy to other nations.

Source: Prensa Latina

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