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Bolivia makes Mutun payment to Sinosteel

Bolivia has made a US$9.9 million down payment to China’s Sinosteel with a view to starting the development of the Mutun iron and steel project in Santa Cruz department in January. Sinosteel was awarded the contract in January 2016.

Bolivia makes Mutun payment to Sinosteel Bolivia makes Mutun payment to Sinosteel Bolivia makes Mutun payment to Sinosteel Bolivia makes Mutun payment to Sinosteel Bolivia makes Mutun payment to Sinosteel

El Mutun development to start

As a result of the 15% down payment, the Mutun Steel Company expects that China's export bank Eximbank will provide the first tranche of counterpart financing of $56.0 million.