Project admitted to EIA increase in 50%
– According to the register of CCHC, between October and December entered the Seia U.S. $ 19,816 million
– In total, in 2013 were presented for evaluation 1,314 investment initiatives, 24% more than in 2012
A greater flow of investments received the System of Environmental Impact Assessment (SEIA) for the last quarter of 2013.
According to a census or registry conducted by the Chilean Chamber of Construction (CCHC), between October and December entered the system 481 initiatives, 48% higher than that observed in the same period in 2012 and 42% from the previous quarter. New projects totaled US$ 19,816,000, representing an annual increase of 50%. This variation was about 32% in the third quarter and down 9% observed in the second.
“What these figures show is that the slowdown we’ve seen should be something more timely. There are super pessimistic views, but looking at the pipeline projects it can be observed that the interest in generating investment projects continues to grow, “said Javier Hurtado, head of research at the CCHC.
However, the executive noted that prosecution problems persist, and that legal uncertainty is getting worse. “So far it has not improved at all. We continue with projects that fall or prosecute. No major power project in the area that is starting. It is a problem that has not been resolved, “he added.
However, the energy sector, explained 67% of the investment entering the fourth quarter, led mainly by Non-Conventional Renewable Energy-, while mining reported 13% (see graphic). The amount of accepted initiatives of processing in the fourth quarter of 2013 increased 47% in a year, while the rejected decreased 79% in the same period.-
According to the report, the regions accounted for the largest number of entered projects were the Metropolitan (64), Magallanes (56) and Los Lagos (52). In the metropolitan area, 36% of the projects is for the real estate and 19% at manufacturing facilities. In terms of amounts, the most relevant flows concentrated in Atacama (U.S. $ 6,984 million), Antofagasta (U.S. $ 5,486) and Biobío (U.S. $ 1,239 million).
In total, in 2013 entered assessment 1,314 initiatives -24% more than in 2012 – for a total of U.S. $ 67,347 million, which remained constant compared to 2012. The report showed an average approval time greater than in the previous year, 10.5 months. The investment amount still remains in rating is U.S. $ 59,222,000, 71% concentrated in energy and mining.
Rule Change
On 24 December went into effect new Seia regulation, which raises the required information when submitting a project evaluation.
For Patricio Rojas, from Rojas y Asociados, this is the main reason for the apparent recovery rate of investment. “The consultants know the previous methodology and to assess under the new criteria will have to invest more. Hence, that investment has increased during the last phase of the earlier effective legislation does not necessarily speak of a rebound, “says Rojas. The economist said the import of capital goods associated with mining and energy was diminished in the latter part of 2013, so he expect fixed investment has fallen 6% or 8% in the last quarter. He adds this trend, “is very likely to continue in the early months of 2014.”
According to Rojas, in the first half of this year it could be seen an overview of investment rather weak, which could improve in the second half of the year due to lower interest rates possible and because of the world economy would be better.-
Source: La Tercera
