Chinese state-owned company Sinosteel Equipment and Engineering Co., Ltd (Sinosteel Equipment), a wholly-owned subsidiary of state-owned Sinosteel Corporation (Sinosteel), has announced that it has inked an engineering procurement construction (EPC) agreement with Bolivian company El Mutun. The total value of the agreement amounts to RMB 2.731 billion ($422.6 million).
Accordingly, Sinosteel Equipment will help El Mutun to build facilities including an iron ore concentrating plant with an annual output capacity of 650,000 mt, pelletizing facilities with an annual capacity of 400,000 mt, a direct reduction iron plant with a capacity of 250,000 mt, a steelmaking plant with a capacity of 156,000 mt, a rebar and wire rod mill with a capacity of 150,000 mt, a 60 MW natural gas power station and other auxiliary facilities.