Although a massive earthquake ravaged parts of the country in late February, infrastructure and other related construction products will likely be a boost to the company, as steel demand is on an upswing. CAP's Huachipato steel plant, damaged during the quake, is expected to return to pre-quake production levels by August of this year. CAP has also indicated they will be increasing its iron ore output by 100 percent, from 10 million tons to 20 million tons, within the next five years.
Chilean steel and iron producer CAP to invest $2.6 billion
Compañia de Acero del Pacífico (CAP) Chief Executive Officer James Charles has stated that CAP plans to invest $2.6 billion between now and 2015, according to a Monday report by Reuters, citing increased demand for products. The investments made by CAP will allow the company to move toward production and earnings goals.