Holding company CAP Group has approved a $24 million investment for its Chilean steelmaker CAP Acero, according to local newspaper Diario Concepcion.
The investment will back maintenance at a CAP Acero’s blast furnace, according to the media report. Maintenance at the blast furnace would also cover the steelmaker’s coking and steelworks facilities.
According to the media report, the $24 million investment will be added to a company’s $8 million investment, announced in December last year.