Chilean steelmaker CAP Acero, which is part of the CAP Group, ended plans to develop a $104 million project at its steel mill in Talcahuano, in the province of Concepción, SteelOrbis has learned.
According to a document filing obtained by SteelOrbis the project’s status changed from “qualified” to “company quit” or “canceled”.
The project, known as Gas Natural Zona Sur, had been qualified by Chilean environmental authority, Servicio de Evaluacion Ambiental (SEA), on February 21 this year, but the “canceled” status was given on December 18.
CAP Acero aimed to build a liquefied natural gas (LNG) infrastructure to run its long steel operations and sell the product in the region.
While initially filing the project, CAP argued the LNG facility would also serve as a key product’s supplier for the region.