Limpio, Paraguay – A significant foreign investment is set to transform Paraguay's industrial landscape with the launch of a new ferrosilicon production plant. The project, announced by Deputy Minister of Industry Marco Riquelme, promises to diversify the nation's metal sector and generate approximately 200 direct jobs.

The $35 million investment will establish a 30,000 square meter facility in Limpio, utilizing 35MW of power to produce ferrosilicon, a crucial material in advanced technologies. "This project is a major step towards industrial diversification," stated Riquelme in a radio interview. "The expertise gained by our 200 employees will pave the way for further industrialization using local raw materials."

Ferrosilicon, produced by combining gravel and electricity, is essential for manufacturing solar panels, semiconductors, and mobile phone screens. The plant is expected to commence production within 14 months, marking a departure from Paraguay's traditional agricultural focus on soybeans and corn.

Paraguay's abundant hydroelectric power provides a strategic advantage for this power-intensive industry. While the country's basic metal sector is still developing, this investment signals a significant stride towards high value-added industrial growth. The project is poised to strengthen Paraguay's position in the global technology supply chain and foster sustainable economic development.

[ⓒ Global Economic Times. 무단전재-재배포 금지]