Bolivia's Morales needs cash, know-how for bold plans

LA PAZ: Bolivia's President Evo Morales wants to launch state-run paper and cement ventures and develop lithium, petrochemical and iron projects in his second term but a lack of foreign investment and know-how could hamper his ambitious plans.

In his first term, Morales nationalized the natural gas industry, the country's top export earner, forcing foreign firms such as Spain's Repsol and Brazil's Petrobras to hand a larger share of revenues to the Bolivian state.

He also took over mining and telecommunication companies and launched a government-run airline and a daily newspaper.