Chilean iron ore and steel producer Grupo CAP informed the local press that, during the current round of investments, its units will receive investments in the order of $500 million.
According to CEO Jorge Salvatierra, around 30 percent of the amount will be destined to sustainability projects, including energy developments, green hydrogen and water desalinization, as an alternative to reduce the environmental impact, while searching for opportunities in new markets and products.
In iron ore production, Compañia Minera del Pacifico (CMP) is receiving investments around $425 million, mostly destined to increasing production and developing new mines.
At steel producer Compañia Siderúrgica Huachipato (CSH), the plant has received $34 million in investments during 2022, an amount that will increase significantly over the next years, aiming at a reconversion of operations towards a sustainable green steel production, in a plan that will allow for reaching advanced environmental standards by 2030.
Regarding the unit of steel processing, CINTAC, Salvatierra mentioned that the company will turn its focus to increasing its production capacity destined to civil construction, including solutions of high-quality residential units destined to social housing programs.