August 6, 2024, 2:14 PM
August 6, 2024, 2:14 PM
Among the various actions that the Government intends to undertake to confront the current economic situation that the country is going through, the President Luis Arce announced a Financial and tax incentive program seeks to increase biodiesel production by national private producers.
The head of state explained that the program is based on a zero tariff rate, which in conjunction with the current zero VAT for machinery imports and equipment for biodiesel plants, will allow for increased private investment to generate a greater flow of production of plant-based fuel.
“This will come from new ventures or the application of technology that increases productivity in soybean production, as well as plants, such as cusi, totaí, among others,” he said during his message to Bolivia for the 199 years of Independence.
He highlighted the industrial projects in Santa Cruz and El Alto. On the premises of the Palmasola refinery, in March Arce inaugurated the first biodiesel production plant and, at the end of 2024, the delivery of the second biodiesel plant, which is being built in El Alto, is planned.
He also mentioned the construction project of the Renewable Diesel Plant (HVO) in Santa Cruz. These three industrial plants “will allow replace diesel imports worth between $400 and $450 million per year,” according to data released this Tuesday in Sucre.
In addition to these new factories, there is also a project for the production of inputs for the Production of Biofuels Vegetable Oils and Used Oils, with an injection of Bs 1,694 million, among others.
