The Chilean steel institute, ICHA, in its last panel “Steel Meetings” unveiled that investments in projects in the country are expected to decline from 2022 by 28 percent to $15.1 billion in 2023.
According to ICHA, for 2024 there is a wide portfolio of projects, which could increase significantly the volume of investments. However, such projects are still lacking schedules, which would ultimately depend on the future improvement of the economic condition of the country, along with a reduction of the political uncertainties surrounding the country, chiefly those linked to the process of a new constitution and the evolution of a tax system reform.
The portfolio of projects that already have a defined timing schedule currently stands at $57.7 billion during the period of 2022 to 2026, as measured during the last quarter of 2022.
The energy sector will face the highest decline, 38 percent from 2022 to 2023, followed by housing (34 percent), mining (30 percent) and public services (12 percent).