Private investment projected by 2017 grows and reach a total of U.S. $ 88,525 million
The entry of new initiatives in the mining, energy and real estate sectors accounted for the increase. The impact of freezing the Pascua Lama project, announced in late October, will be known in the December’s report
New projects in the mining, energy and real estate sectors along with the increase in the amount of ongoing initiatives are the factors that are pushing up investment in Chile.
According to the report on the third quarter of the Capital Goods Corporation (CBC), private investments referred for 2013-2017 rose by $ 3,868 million from the previous report, with close to last June 30th to U.S. $ 88,525 million with a total of 831 works.
The largest amount estimated to 2017 correspond to entry of 107 projects, which totaled U.S. $ 10,422 million. Meanwhile, other 74 initiatives showed increases of U.S. $ 1,884 million.
Instead, 30 plans emerged from the survey and totaled U.S. $ 2,306 million. At the same time, 45 projects lowered their investment, at $ 6.132 million, reflecting a greater extent, to changes in schedules, according to the CBC.
The company explained that the impact of the freeze of Pascua Lama gold project from Barrick announced in late October, will be analyze and calculate in the report at the end of December. It is an investment of U.S. $ 8,500 million, located in the mountains of Atacama, in a border area with Argentina, and had already made a payment close to 56%.-
Came and Went
The CBC noted that the mining sector joined the survey eight projects by U.S. $ 5,199 million. Highlights a work of desalinated water for Minera Escondida, that according to “El Mercurio” in July, would cost U.S. $ 3,430 million.-
In the energy sector, the Corporation stated that 31 initiatives for $ 2.066 million joined, among which are photovoltaic plants, transmission lines, power passing, wind farms and geothermal works.
Another of the sectors that made an important contribution to the survey was the property, adding U.S. $ 1,311 million related to 31 new plans as residential buildings, offices, shopping malls, exhibition health, among others.
The planned investment in 2017 totaled U.S. $ 14,312 million, of which 68.7% is in the Metropolitan Region. Next in importance is Valparaiso (U.S. $ 1,100 million), Biobío (U.S. $ 618 million), Coquimbo (U.S. $ 589 million) and Antofagasta (U.S. $ 571 million).
The report also says, among others, the contribution of new industrial and port plans, which added U.S. $ 734 million.
Among the initiatives that came out of the estimates is the Central Termoelectrica Pacifico, about U.S. $ 750 million (in Tarapaca) and whose owner is Rio Seco, according to the Environmental Evaluation Service’s Data. The CBC said the construction of this project has not started, although it was approved by the Committee of Ministers.
Also came from the register the Chiloe Wind Farm and two solar works, among others.
Source: El Mercurio
