Bolivian President Evo Morales on Wednesday urged Spanish company Tecnicas Reunidas to finish construction of the Gran Chaco liquids separation plant one month ahead of schedule.

Morales said after inspecting the project that the country was "entering the era of industrialization" and urged companies building plants in the South American country to push their projects through to completion.

He noted that Bolivia has many plans, "not only in terms of hydrocarbons, but also in mining, electrical plants, hydroelectric and thermoelectric," adding that when a company meet its deadlines it wins the government's trust and is rewarded with new projects.

"You are aware of how nationalization (of assets in the hydrocarbons, mining, electricity, telecommunications and cement sectors) has transformed the domestic economy, and now we've moved beyond nationalization to industrialization," the leftist president said.

The initial deadline for completing the natural gas liquids separation plant was October 2014, but Morales called for it to be finished next September.

The $600 million plant - located in the southern town of Yacuiba - is nearly 68 percent finished, according to Bolivian state energy company YPFB. Nearly 2,500 people are involved in its construction.

The project is Tecnicas Reunidas' fourth in Bolivia, where it also has built two gas treatment plants at the Margarita gas field, managed by Repsol, and a refinery in the central province of Cochabamba that is operated by YPFB.

Once completed, the Gran Chaco complex will process 32.2 million cubic meters per day of natural gas to produce 2,247 metric tons per day of liquefied petroleum gas and around 1,658 barrels per day of gasoline rich in isopentane, according to YPFB's projections. EFE