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Andean Group - February 2021

Economic Highlights

BOLIVIA | Biodiesel plant. On 23 January, Bolivia’s hydrocarbons minister, Franklin Molina, announced plans to invest US$279m in the construction of a new biodiesel processing plant in 2021, to help reduce the country’s dependence on diesel imports, which are expected to cost Bolivia US$1.2bn in 2021. Molina did not specify where the plant would be constructed but noted that it is expected to produce 12,000 barrels of fuel per day, and forms part of state-owned energy company Yacimientos Petrolíferos Fiscales Bolivianos’ (YPFB) strategy to transition towards more sustainable energy sources. The minister also highlighted that the construction of the plant will create jobs and provide a boost for the country’s agriculture sector once in operation, by increasing demand for soybeans and other crops needed for biodiesel production.

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