Sinohydro Bureau 4 Co., Ltd., an engineering company based in China's Qinghai, has signed a construction contract to build a gas-fired power plant in Bolivia.
The contract to build the power plant, which is part of a steel mill in Santa Cruz, is worth approximately 53.4 million yuan (8.4 million U.S. dollars), according to the commerce department of Qinghai.
The steel mill is designed with an annual steel output of about 194,000 tonnes, which is expected to help save about half of the country's foreign exchange expenses for steel imports and bring significant changes to Bolivia's centuries-long history of relying on imported steel to build projects and its cities, according to the department.
Editor: Kelly
