LatinNews Daily - 25 January 2021

In brief: Bolivia plans new biodiesel plant

* Bolivia’s hydrocarbons minister, Franklin Molina, has 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, estimated to cost US$1.2bn. Molina did not specify where this plant would be constructed, but noted that it is intended 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. He 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.